This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. It plays a significant role in the development of inhibitors targeting specific enzymes, particularly those involved in cellular signaling pathways. Its structural framework is often incorporated into molecules designed to modulate biological activities, making it valuable in drug discovery efforts. Researchers leverage its properties to create compounds with potential therapeutic applications, such as treating cardiovascular diseases, cancer, and inflammatory conditions. Additionally, its derivatives are explored for their ability to interact with receptors or proteins, contributing to the advancement of targeted therapies.