This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the creation of heterocyclic compounds, which are often explored for their potential therapeutic properties. Researchers focus on its application in designing drugs targeting central nervous system disorders, such as anxiety, depression, and neurodegenerative diseases, due to its pyridine and pyran ring systems. Additionally, it serves as a building block in organic synthesis for developing novel compounds with potential anti-inflammatory, antimicrobial, or anticancer activities. Its versatility in chemical reactions makes it a valuable tool in medicinal chemistry for discovering new drug candidates.