Used primarily as an intermediate in the synthesis of anticoagulant compounds and biologically active naphthoquinone derivatives. It plays a role in the development of pharmaceuticals targeting blood clotting disorders due to its structural similarity to vitamin K antagonists. Also investigated for its potential in electrochemical applications, such as redox mediators in biosensors, owing to the quinone moiety’s reversible electron transfer properties. Additionally, it serves as a building block in the preparation of dyes and fluorescent probes for biochemical labeling.