This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules. Its indazole core structure is particularly valuable in the creation of compounds that exhibit potential therapeutic effects, such as anti-inflammatory, anticancer, and antimicrobial properties. Researchers often modify its structure to explore new drug candidates, making it a versatile building block in medicinal chemistry. Additionally, it has been investigated for its role in the development of enzyme inhibitors, which can be crucial in targeting specific pathways in disease treatment. Its application extends to the study of biochemical processes, where it aids in understanding the mechanisms of action of various enzymes and receptors.