This compound is primarily utilized in the development of pharmaceutical agents, particularly in the field of oncology. It serves as a key intermediate in the synthesis of targeted cancer therapies, where it plays a crucial role in inhibiting specific enzymes or receptors involved in tumor growth and proliferation. Its structural features make it suitable for binding to certain kinase proteins, which are often overactive in cancer cells, thereby helping to control or halt the progression of the disease. Additionally, it is explored in the design of drugs for neurological disorders, leveraging its ability to modulate neurotransmitter systems and potentially improve cognitive or motor functions in conditions like Parkinson's or Alzheimer's disease. Its versatility in medicinal chemistry underscores its importance in advancing therapeutic innovations.