Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nicotinamide-based compounds with potential metabolic and neurological activity. Its aldehyde and ester functional groups allow for selective chemical modifications, making it valuable in medicinal chemistry for building complex heterocyclic structures. Commonly employed in research settings to design enzyme inhibitors or receptor ligands. Also utilized in the preparation of fluorescent probes due to its ability to undergo condensation reactions that yield detectable derivatives.