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 constructing indazole-based bioactive molecules. Commonly employed in cross-coupling reactions, such as Suzuki or Heck reactions, to introduce aryl or vinyl groups, facilitating the creation of complex drug candidates. Also utilized in medicinal chemistry research for optimizing potency and metabolic stability in small molecule therapeutics.