Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of potential therapeutic agents targeting cancer, inflammation, and neurological disorders. Researchers utilize it to create indazole-based derivatives, which are explored for their enzyme inhibition properties, especially in kinases and other signaling proteins. Additionally, it finds application in the study of drug-receptor interactions, aiding in the design of more effective and selective drugs. Its versatility makes it a crucial component in medicinal chemistry and drug discovery pipelines.