Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and other biologically active molecules. Its indazole core is commonly found in drugs targeting cancer, inflammation, and neurological disorders. The ester group allows for easy functionalization, making it valuable in medicinal chemistry for building more complex structures through peptide coupling or nucleophilic substitution reactions. Also employed in research settings to prepare analogs for structure-activity relationship (SAR) studies.