This compound is primarily utilized in the field of biomedical research due to its potential biological activities. It is studied for its anticancer properties, as it has shown the ability to induce apoptosis in certain cancer cell lines. Additionally, it is explored for its antimicrobial effects, particularly against resistant strains of bacteria and fungi. The compound is also investigated for its role as a natural pigment in various industrial applications, including dyes and coatings. Its antioxidant properties make it a candidate for use in formulations aimed at reducing oxidative stress in biological systems. Research is ongoing to further understand its mechanisms and optimize its applications in medicine and industry.