Used in research as a fluorescent probe due to its strong photostability and emission properties in the visible range. It is particularly effective in cellular imaging, where it labels lipid membranes and intracellular structures with high specificity. Its lipophilic side chain enhances cell membrane permeability, making it suitable for live-cell imaging without transfection agents. Also investigated for use in photodynamic therapy owing to its ability to generate reactive oxygen species under light exposure. Additionally, serves as a scaffold in the development of kinase inhibitors in anticancer drug design due to its affinity for ATP-binding sites in enzymes.