Used primarily as a building block in organic synthesis, especially in the preparation of heterocyclic compounds. It serves as a key intermediate in the development of pharmaceuticals, including potential antitumor and antimicrobial agents. Its hydrazine functionality allows for condensation reactions to form hydrazones, which are valuable in drug design and medicinal chemistry. Also employed in the synthesis of dyes and functional materials due to its electron-donating methoxy group and reactive amine sites.