Used primarily in pharmaceutical research as an intermediate in the synthesis of bioactive compounds. It serves as a building block for developing indazole-based drug candidates, particularly in the discovery of kinase inhibitors and anti-inflammatory agents. Its iodinated structure allows for further functionalization via cross-coupling reactions, making it valuable in medicinal chemistry for structure-activity relationship studies. Also employed in the development of potential anticancer and neuroprotective agents due to the indazole scaffold’s biological relevance.