Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its indazole core structure is valuable in designing drugs targeting neurological disorders, inflammation, and certain types of cancer. Researchers also explore its potential in creating kinase inhibitors, which are crucial in treating diseases like rheumatoid arthritis and other autoimmune conditions. Additionally, it finds utility in organic synthesis for constructing complex heterocyclic compounds with potential therapeutic applications.