Primarily used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in developing potential therapeutic agents, especially in the field of oncology, where it is explored for its role in inhibiting specific enzymes involved in cancer cell proliferation. Additionally, it finds application in the study of enzyme mechanisms and as a building block in organic chemistry for creating complex heterocyclic compounds. Its derivatives are also investigated for antimicrobial and anti-inflammatory properties, making it a versatile component in drug discovery and development.