Used primarily as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. Its reactive bromomethyl group allows for easy alkylation and attachment to various functional moieties, making it valuable in medicinal chemistry for building complex heterocyclic compounds. It is also employed in the preparation of bioactive molecules and probes for biological studies due to the stability and favorable pharmacokinetic properties imparted by the indazole core.