Used as a key intermediate in the synthesis of kinase inhibitors, particularly in anticancer drug development. Its structure allows for selective binding to ATP sites in protein kinases, making it valuable in designing targeted therapies for leukemia and other malignancies. Also employed in the creation of fluorescent probes for biochemical assays due to its stable aromatic core and modifiable functional groups. Commonly utilized in medicinal chemistry research for optimizing drug candidates with improved potency and metabolic stability.