Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of compounds with potential therapeutic properties. It plays a role in the creation of indazole derivatives, which are explored for their biological activities, including anti-inflammatory, anticancer, and antimicrobial effects. Additionally, it is being studied for applications in developing drugs related to the nervous system and psychiatry due to its potential influence on brain neurotransmitter systems. However, its uses remain in the research and clinical trial phases to assess efficacy and safety before medical application. It is also utilized in organic chemistry research for constructing complex molecular structures due to its reactive carboxylate group.