Used as an intermediate in the synthesis of vitamin K analogs and certain anticoagulant compounds. It plays a role in the production of biologically active naphthoquinone derivatives, which are important in pharmaceutical research, particularly in studies related to blood clotting and redox processes in biological systems. Also utilized in the development of dyes and pigments due to its conjugated quinone structure, which imparts strong color and stability. Its derivatives are explored for potential antimicrobial and anticancer activities in medicinal chemistry.