Used primarily as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of selective estrogen receptor modulators (SERMs). It plays an important role in the production of compounds designed to treat hormone-related conditions such as breast cancer and osteoporosis. Due to its stable aromatic structure and functional reactivity, it is also employed in research settings for the construction of complex organic molecules. Its derivatives are explored for their potential in anti-inflammatory and anticancer drug discovery programs.