Used primarily as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of anti-inflammatory and antimicrobial compounds. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for creating derivatives with enhanced biological activity. It is also employed in the preparation of agrochemicals, contributing to the design of novel pesticides with improved selectivity and efficacy. Due to the presence of reactive hydroxyl and isoxazole groups, it serves as a building block in heterocyclic chemistry for constructing complex molecules in research and development settings.