Used in pharmaceutical research as a key intermediate for synthesizing biologically active compounds, particularly kinase inhibitors. Shows relevance in developing anticancer agents due to its structural similarity to indazole-based inhibitors that target signaling pathways in tumor cells. Also employed in the synthesis of analogs for structure-activity relationship (SAR) studies, helping optimize potency and selectivity in drug candidates. Its carboxylic acid group allows for easy derivatization, making it valuable in medicinal chemistry for amide coupling and prodrug formation.