Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nicotinamide-based drugs and vitamin B3 derivatives. It serves as a building block in the preparation of biologically active molecules, including enzyme inhibitors and receptor modulators. Its aldehyde and hydroxymethyl functional groups allow for versatile chemical modifications, making it valuable in medicinal chemistry for creating novel compounds with potential antimicrobial, anti-inflammatory, or neuroprotective properties. Also employed in the synthesis of fluorescent probes and sensors due to its ability to form conjugated systems upon condensation reactions.