Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. It serves as a building block in medicinal chemistry due to its rigid heterocyclic structure, which enhances binding affinity to biological targets. Also employed in the preparation of fluorescent probes for biochemical assays, leveraging its photophysical properties. Its derivatives show potential in antimicrobial and anti-inflammatory applications, making it valuable in drug discovery research.