Used as a key intermediate in the synthesis of bioactive compounds, particularly in pharmaceuticals targeting the central nervous system. Commonly employed in the development of cannabinoid receptor modulators and related psychoactive research chemicals. Also utilized in organic synthesis for constructing heterocyclic frameworks due to the reactivity of the ester group and the indazole core. Its derivatives are investigated for potential anti-inflammatory, analgesic, and neuroprotective effects. Widely applied in medicinal chemistry research for structure-activity relationship (SAR) studies.