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 with iodine and nitrile functional groups, makes it valuable for designing inhibitors targeting specific enzymes or receptors. It is particularly relevant in the development of potential anticancer and anti-inflammatory agents, where its ability to interact with biological targets is explored. Additionally, it serves as a building block in organic synthesis for creating more complex heterocyclic compounds with potential therapeutic applications. Its unique chemical properties also make it useful in medicinal chemistry for optimizing drug candidates' potency and selectivity.