Used primarily as a key intermediate in the synthesis of selective estrogen receptor modulators (SERMs), particularly in the development of pharmaceuticals for hormone-dependent conditions such as breast cancer. Its structural features enable high affinity binding to estrogen receptors, making it valuable in drug research and development. The compound is also employed in the preparation of potent antiestrogenic agents used in both therapeutic and diagnostic applications. Due to its stability and specific reactivity, it serves as a building block in medicinal chemistry for optimizing receptor selectivity and pharmacokinetic properties in new drug candidates.