This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive compounds. It serves as a building block for the development of drugs targeting neurological disorders, particularly those involving the modulation of GABA receptors. Additionally, it is employed in the creation of potential anticancer agents due to its ability to interact with specific cellular pathways. Its indazole core structure makes it valuable in medicinal chemistry for designing molecules with therapeutic properties. Researchers also explore its use in developing treatments for inflammatory conditions and pain management. Its versatility in drug design highlights its importance in advancing modern pharmacology.