Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of drugs targeting specific enzymes or receptors, such as kinase inhibitors, which are crucial in cancer therapy. Additionally, it finds application in the design of compounds with potential anti-inflammatory and antimicrobial properties. The carboxylic acid group allows for further chemical modifications, making it versatile in medicinal chemistry for creating derivatives with enhanced efficacy and selectivity.