Used primarily as a synthetic intermediate in pharmaceutical research, this compound plays a role in the development of bioactive molecules. It is notably associated with the synthesis of selective androgen receptor modulators (SARMs) and other performance-enhancing agents, often investigated for their tissue-selective anabolic effects. Due to its structural features, it serves as a building block in medicinal chemistry for modifying indazole-based scaffolds to optimize potency, selectivity, and metabolic stability. Its derivatives are explored in preclinical studies for potential applications in treating muscle-wasting conditions and hormone-related disorders. However, it is not approved for human therapeutic use and is mainly restricted to laboratory and research settings.