This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of biologically active molecules. It serves as a key intermediate in the creation of various indazole-based compounds, which are known for their potential therapeutic applications. Researchers leverage its structure to develop inhibitors targeting specific enzymes or receptors, often exploring its use in treating conditions such as cancer, inflammation, and neurological disorders. Additionally, its presence in medicinal chemistry studies highlights its role in optimizing drug candidates for improved efficacy and selectivity.