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 medicinal chemistry for designing drugs with high target specificity. Also employed in research settings to develop novel bioactive molecules and probe biological pathways. Additionally, it serves as a building block in the preparation of fluorescent probes and optoelectronic materials due to its conjugated heterocyclic framework.