Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anti-inflammatory and analgesic agents. Its rigid polycyclic structure enhances binding selectivity in biological systems, making it valuable in drug design. Also employed in materials science for creating fluorescent probes due to its conjugated aromatic framework. The cyano and carboxylic acid functional groups allow for easy derivatization, enabling its use in building complex organic molecules for research and industrial applications.