This compound is utilized in the development of pharmaceutical agents due to its structural properties, which make it a potential candidate for drug discovery. It is particularly studied for its role in modulating biological pathways, as the pyrrole and phenylacetic acid moieties are known to interact with various enzymes and receptors. Researchers explore its application in creating anti-inflammatory, analgesic, or anticancer drugs, leveraging its ability to influence cellular processes. Additionally, it serves as a building block in organic synthesis for designing more complex molecules with targeted therapeutic effects.