Used as a key intermediate in the synthesis of selective estrogen receptor modulators (SERMs), particularly in the production of drugs for treating hormone-responsive cancers like breast cancer. It plays a role in developing compounds that can block estrogen receptors in breast tissue, helping to inhibit tumor growth. Also utilized in research settings for studying receptor binding and hormonal pathways due to its structural affinity for estrogen receptors. Its sulfate group enhances solubility, making it suitable for pharmaceutical formulations requiring water-soluble components.