Used as an intermediate in the synthesis of biologically active compounds, particularly in pharmaceutical research targeting kinase inhibitors. Its structure supports derivatization for drug discovery, especially in developing anti-cancer agents. The iodine moiety allows for further functionalization via cross-coupling reactions, making it valuable in medicinal chemistry for building complex indazole-based molecules. Also employed in the preparation of proteolysis-targeting chimeras (PROTACs) due to its stability and reactivity profile.