Used in pharmaceutical research as a key intermediate in the synthesis of selective kinase inhibitors, particularly those targeting TRK (tropomyosin receptor kinase) proteins. It plays a role in the development of anticancer agents due to its ability to cross the blood-brain barrier and inhibit abnormal kinase activity involved in tumor growth. Its rigid oxazole-indeno scaffold enhances binding affinity and metabolic stability, making it valuable in optimizing drug candidates for neurodegenerative diseases and oncology.