Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nicotinic receptor modulators and central nervous system agents. Its structure allows for functionalization at multiple sites, making it valuable in medicinal chemistry for building complex heterocyclic compounds. Commonly employed in research settings to prepare bioactive molecules and drug candidates. Also utilized in the preparation of agrochemicals and functional materials due to its reactive ester and hydroxyl groups, which enable further chemical modifications.