This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research due to its potential biological activities. It serves as a key intermediate in the synthesis of various heterocyclic compounds, which are often explored for their therapeutic properties. Researchers focus on its applications in developing novel drugs, particularly for targeting diseases such as cancer, inflammation, and microbial infections. Its structural framework is valuable in designing molecules that can interact with specific biological targets, such as enzymes or receptors, to modulate their activity. Additionally, it is studied for its role in enhancing the pharmacokinetic properties of drug candidates, improving their efficacy and stability.