Used in organic synthesis as an intermediate for pharmaceuticals and functional materials. Its structure contains both ester and oxazole functionalities, making it valuable in constructing heterocyclic compounds. Commonly employed in the development of bioactive molecules, including potential anti-inflammatory and antimicrobial agents. Also utilized in the preparation of liquid crystals and optoelectronic materials due to its conjugated aromatic system. Serves as a building block in cross-coupling reactions for drug discovery and material science research.