Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various drugs, particularly those targeting viral infections and cancer. Its structure allows for modifications that can enhance the efficacy of therapeutic agents. Additionally, it finds application in the field of organic chemistry as a building block for more complex molecules, aiding in the study of chemical reactions and pathways. Its role in material science is also notable, where it contributes to the development of novel materials with potential uses in electronics and nanotechnology.