This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of potential therapeutic agents, especially in the design of inhibitors targeting specific enzymes or receptors involved in disease pathways. Researchers often employ it to create novel compounds for drug discovery, particularly in areas such as oncology, where indazole derivatives have shown promise. Additionally, it may be used in the preparation of ligands for pharmacological studies, aiding in the exploration of new treatment options for complex diseases.