Used primarily in pharmaceutical research as a synthetic intermediate for developing bioactive molecules. Shows potential in the study of enzyme inhibitors, particularly in oncology-related research due to structural similarity to kinase inhibitor scaffolds. Also utilized in the development of anti-inflammatory and analgesic agents, as indazolone derivatives exhibit notable modulation of cellular signaling pathways. Its derivatives are explored for CNS activity, including neuroprotective and anxiolytic effects. Commonly employed in medicinal chemistry for structure-activity relationship (SAR) studies to optimize drug candidates.