Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for selective modification, making it valuable in creating bioactive molecules. Commonly employed in medicinal chemistry research to build indazole-based scaffolds that exhibit anti-inflammatory, antiviral, or antitumor activity. Also utilized in the preparation of PROTACs (proteolysis-targeting chimeras) due to its favorable reactivity and stability in multi-step organic transformations.