This compound is primarily used in pharmaceutical research and development as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the creation of compounds with potential therapeutic effects, such as anti-inflammatory, analgesic, or neuroprotective agents. Additionally, it serves as a building block in organic chemistry for constructing complex heterocyclic frameworks, which are often found in drugs targeting central nervous system disorders. Its ethyl ester group enhances its reactivity, making it suitable for further chemical modifications in drug discovery processes.