Widely used in pharmaceutical research, it serves as a key intermediate in the synthesis of various bioactive compounds, particularly those targeting neurological disorders. Its structure is leveraged in developing molecules with potential antipsychotic and antidepressant properties. Additionally, it plays a role in the creation of heterocyclic compounds for studying enzyme inhibition, aiding in drug discovery efforts. Its applications extend to material science, where it contributes to the development of organic electronic materials due to its conjugated system.