Used as an intermediate in the synthesis of biologically active compounds, particularly in the development of anticoagulant and anti-inflammatory agents. Its structure serves as a scaffold for building flavonoid-like molecules, which are known for their pharmacological properties. Commonly employed in medicinal chemistry research to design new drugs targeting enzyme inhibition, especially in kinases and related protein targets. Also utilized in the preparation of fluorescent probes due to the chromene backbone’s inherent optical properties.