Used primarily in research settings as an intermediate in the synthesis of biologically active compounds, particularly in the development of potential antitumor and antimicrobial agents. Its fused heterocyclic structure makes it valuable for studying structure-activity relationships in medicinal chemistry. It has also been explored for its photophysical properties, showing promise in the design of fluorescent probes for biochemical imaging. Additionally, derivatives of this compound are investigated for their kinase inhibitory activity, which is relevant in targeted cancer therapies.