Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of indazole-based compounds, which are explored for their potential therapeutic applications, including anti-cancer, anti-inflammatory, and neurological disorder treatments. Its bromomethyl group allows for further functionalization, making it a versatile building block in medicinal chemistry. Researchers also utilize it in the study of enzyme inhibition and receptor modulation, contributing to the discovery of novel drug candidates.