This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting specific enzymes or receptors. Its indazole core structure is often explored for developing potential therapeutic agents, including kinase inhibitors, which are significant in cancer treatment. Additionally, it is investigated for its role in modulating inflammatory pathways, making it relevant for anti-inflammatory drug development. Researchers also study its derivatives for potential applications in treating neurological disorders due to its ability to interact with central nervous system targets. Its versatility in drug design makes it a valuable scaffold for discovering novel compounds with diverse pharmacological activities.