Primarily used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various therapeutic agents. It plays a significant role in the development of antiviral and anticancer drugs due to its structural properties, which allow for effective interaction with biological targets. Additionally, it is utilized in organic synthesis to create complex molecules for medicinal chemistry studies. Its derivatives are explored for their potential in treating neurological disorders and inflammatory conditions. In the field of biochemistry, it aids in studying enzyme mechanisms and protein interactions.