Used primarily as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. It serves as a building block in medicinal chemistry due to its halogenated structure, which allows for selective cross-coupling reactions such as Suzuki or Heck reactions, enabling the construction of complex drug molecules. Its derivatives show activity in targeting specific signaling pathways involved in tumor growth and inflammation. Additionally, it has been explored in research settings for the development of PET imaging agents, leveraging the iodine atom for radiolabeling.