Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the creation of indazole-based compounds, which are explored for their potential therapeutic properties. Researchers leverage it to develop inhibitors targeting specific enzymes or receptors, aiding in the study of diseases such as cancer, inflammation, and neurological disorders. Additionally, it finds utility in organic synthesis for constructing complex heterocyclic frameworks, contributing to advancements in medicinal chemistry and drug discovery.