This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various biologically active molecules. Its indazole core structure makes it valuable for designing compounds with potential therapeutic applications, particularly in the fields of oncology and neurology. Researchers often employ it to create novel inhibitors targeting specific enzymes or receptors involved in disease pathways. Additionally, it serves as a building block in medicinal chemistry for optimizing drug candidates with improved efficacy and selectivity. Its iodine substituent also allows for further functionalization, enabling the development of diverse chemical libraries for high-throughput screening in drug discovery.