This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting enzyme inhibition. Its structure is often modified to develop potential therapeutic agents, especially in the treatment of diseases related to abnormal cell proliferation, such as cancer. Additionally, it is explored for its role in creating compounds that modulate adenosine receptors, which are crucial in regulating cardiovascular and neurological functions. Researchers also investigate its derivatives for their potential antiviral and anti-inflammatory properties, making it a versatile scaffold in drug discovery.