Used primarily in pharmaceutical research as a key intermediate in the synthesis of biologically active compounds. It serves as a structural scaffold in the development of kinase inhibitors, which are important in the treatment of cancer and inflammatory diseases. Its indazolone core enhances binding affinity to certain enzyme targets, making it valuable in drug discovery programs focused on oncology and central nervous system disorders. Additionally, it has been explored in the design of selective receptor modulators due to its ability to mimic endogenous signaling molecules. The compound's stability and derivatization potential support its use in high-throughput screening and structure-activity relationship (SAR) studies.