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 neurological and psychiatric disorders. Its structure is often incorporated into compounds designed to interact with specific receptors in the brain, such as cannabinoid or serotonin receptors, making it valuable in the development of potential therapeutics for conditions like anxiety, depression, and chronic pain. Additionally, its pyrazole core is frequently explored in the design of enzyme inhibitors, contributing to drug discovery efforts aimed at treating metabolic and inflammatory diseases.