Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of compounds with potential anti-inflammatory and analgesic properties. It serves as a building block in organic reactions where the benzofuran core is required for constructing bioactive molecules. Its ester and methoxy functionalities allow for further chemical modifications, making it valuable in medicinal chemistry research. Also employed in the preparation of analogs for structure-activity relationship (SAR) studies targeting central nervous system agents.