Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of central nervous system (CNS) active compounds. It serves in the preparation of pyrazole-based derivatives that exhibit potential as anxiolytic, antidepressant, and anticonvulsant agents. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for drug discovery and optimization. Also employed in the creation of selective enzyme inhibitors and receptor modulators in research settings.