Used as a fluorescent probe in biological imaging due to its strong emission in the red region, this compound is particularly effective for staining cellular membranes and tracking membrane dynamics in live cells. Its lipophilic nature allows easy penetration through lipid bilayers, making it suitable for real-time visualization of cell structures without requiring fixation. Additionally, it serves as a photosensitizer in photodynamic therapy research, where it generates reactive oxygen species upon light exposure, showing potential for targeted cancer cell destruction. The compound’s stability and high quantum yield also make it valuable in developing optical sensors and luminescent materials.