Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the creation of drugs targeting neurological disorders, cancer, and inflammatory conditions. Its indazole core structure is often incorporated into compounds that modulate enzyme activity or receptor function, making it a crucial building block in medicinal chemistry. Additionally, it is utilized in the study of kinase inhibitors, which are important in cancer therapy. Its applications also extend to agrochemical research, where it contributes to the development of new pesticides and herbicides.