Used as an intermediate in the synthesis of pharmaceuticals and biologically active compounds. It plays a role in the development of antimicrobial and antifungal agents due to its structural similarity to phenazine-based natural products. Also employed in research for dye-sensitized solar cells and organic semiconductors because of its electron-accepting properties. Its derivatives are explored in medicinal chemistry for potential anticancer and anti-inflammatory applications. Additionally, it is used in biological assays to study enzyme functions and metabolic pathways in microbial cells.