Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of certain central nervous system agents and nootropic drugs. It serves as a building block in heterocyclic chemistry due to the reactivity of the isoxazole ring, enabling functionalization for drug development. Commonly employed in research settings to develop compounds with potential cognitive-enhancing or neuroprotective properties. Its ester group allows for easy modification, making it valuable in medicinal chemistry for structure-activity relationship studies.