Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various drugs, particularly those targeting neurological and infectious diseases. Its structure is valuable in creating molecules with potential therapeutic effects, such as anti-inflammatory or antimicrobial properties. Additionally, it plays a role in the development of chemical probes for studying biological pathways and enzyme mechanisms. Its ester group enhances its reactivity, making it suitable for further chemical modifications in drug discovery processes.