This compound is primarily utilized in pharmaceutical research and development due to its unique structure, which makes it a valuable intermediate in the synthesis of various bioactive molecules. It is often employed in the creation of potential drug candidates targeting specific biological pathways, particularly in the field of oncology and neurological disorders. Its iodine moiety allows for further functionalization, enabling chemists to modify the molecule for enhanced biological activity or improved pharmacokinetic properties. Additionally, it is used in medicinal chemistry to explore structure-activity relationships (SAR) and optimize lead compounds for therapeutic applications.