This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research due to its potential biological activities. It is often explored for its role as a precursor or intermediate in the synthesis of more complex molecules that exhibit therapeutic properties. Researchers investigate its application in developing drugs targeting specific enzymes or receptors, particularly in areas like anti-inflammatory, antimicrobial, or anticancer therapies. Its unique structure allows for modifications that can enhance binding affinity and efficacy, making it a valuable component in drug discovery and development processes. Additionally, it may be studied for its pharmacokinetic properties to assess its suitability as a lead compound in preclinical trials.