Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of biologically active molecules. It is particularly valuable in the creation of kinase inhibitors, which are a class of drugs used in targeted cancer therapies. Its structure allows for selective modification, making it useful in optimizing drug candidates for improved potency and selectivity. Additionally, it has been employed in the study of cannabinoid receptor modulators, contributing to the development of treatments for pain, inflammation, and neurological disorders. The compound is also utilized in labeling and tracer studies due to the presence of iodine, enabling radiolabeling applications in diagnostic imaging and metabolic research.