This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of various drug candidates. It serves as a key intermediate in the production of molecules with potential therapeutic applications, such as inhibitors targeting specific enzymes or receptors involved in disease pathways. Its structural framework is often incorporated into compounds designed for anti-inflammatory, antiviral, or anticancer activities. Additionally, it is explored in the creation of novel heterocyclic compounds, which are valuable in medicinal chemistry for their diverse biological activities. Researchers also investigate its use in the development of fluorescent probes or imaging agents due to its unique chemical properties.