This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of various biologically active molecules. It serves as a key intermediate in the production of compounds with potential therapeutic applications, such as anti-inflammatory, antiviral, and anticancer agents. Its structure is valuable in the design of drugs targeting specific enzymes or receptors, making it a crucial component in medicinal chemistry. Additionally, it may be explored in the development of diagnostic tools or imaging agents due to its ability to interact with biological systems.