Used primarily as a key intermediate in pharmaceutical synthesis, especially in Suzuki-Miyaura cross-coupling reactions to construct biaryl systems. Its indazole core is common in bioactive molecules, making it valuable for developing kinase inhibitors and anticancer agents. The boronate ester group enables efficient and selective carbon-carbon bond formation under mild conditions, which is advantageous in late-stage functionalization of complex drug candidates. It is also employed in the preparation of small-molecule therapeutics targeting inflammatory and neurological disorders.