Used in the synthesis of pharmaceutical intermediates, particularly in the development of selective estrogen receptor modulators (SERMs). It serves as a key building block in creating compounds with potential therapeutic effects for hormone-related conditions such as osteoporosis and breast cancer. Its structural features allow for high binding affinity to estrogen receptors, making it valuable in medicinal chemistry research. Also employed in the preparation of fluorescent probes due to its favorable photophysical properties, useful in biochemical imaging and assay technologies.