Used in the synthesis of pharmaceutical intermediates, particularly in the development of nicotinamide-based compounds with potential biological activity. Serves as a building block in organic synthesis for creating heterocyclic systems found in certain kinase inhibitors and antimicrobial agents. Its ester and hydroxyl functional groups allow for easy modification, making it valuable in medicinal chemistry for structure-activity relationship studies. Also employed in the preparation of fluorescent probes due to its ability to form conjugated systems upon reaction.