Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and anti-inflammatory agents. Its structure allows for effective binding in biologically active molecules, making it valuable in medicinal chemistry. Commonly employed in the preparation of pyrazole-containing compounds that exhibit antitumor, antiviral, and antimicrobial activities. Also utilized in research for designing new drug candidates due to its favorable reactivity and ability to form stable derivatives.