This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various biologically active molecules. Its structure, featuring an indazole core and a piperazine moiety, makes it valuable for designing compounds targeting specific receptors or enzymes, particularly in the field of oncology and neurological disorders. Researchers often employ it to create potential drug candidates for cancer therapy, leveraging its ability to modulate signaling pathways involved in cell proliferation and apoptosis. Additionally, it is used in the development of radiolabeled probes for imaging studies, aiding in the understanding of disease mechanisms and drug distribution in the body. Its versatility and functional groups allow for further chemical modifications, making it a crucial building block in medicinal chemistry.