Used in organic synthesis as a building block for more complex molecules, particularly in the development of pharmaceuticals. It serves as a key intermediate in the creation of compounds with potential therapeutic properties, such as anti-inflammatory, antimicrobial, and anticancer agents. Its structure is valuable in designing drugs that target specific biological pathways. Additionally, it is utilized in research to study enzyme interactions and receptor binding due to its unique chemical properties. It is also studied for the development of fluorescent agents for biological assays and disease diagnostics, as its structure can be modified to enhance binding efficiency to specific targets.