Used primarily as a synthetic intermediate in the production of vitamin K analogs, this compound plays a key role in pharmaceutical manufacturing. It is involved in the synthesis of biologically active quinones, particularly those with anticoagulant or enzyme-cofactor properties. Due to its naphthoquinone structure, it also finds use in research related to electron transport systems and redox reactions. Additionally, derivatives of this compound are explored for their potential in developing new therapeutic agents, including anticancer and antimicrobial drugs. Its lipophilic side chain enhances cell membrane permeability, making it suitable for studies in drug delivery and bioavailability.