Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of drugs targeting neurological disorders and cancer. Its structure allows for modifications that can enhance the efficacy and selectivity of therapeutic agents. Additionally, it is employed in the preparation of pyrazole derivatives, which are studied for their potential anti-inflammatory and antimicrobial properties. Its role in medicinal chemistry highlights its importance in advancing drug discovery and development.