This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. It is particularly valuable in the development of small molecule inhibitors and modulators targeting specific enzymes or receptors involved in disease pathways. Its structural framework is often incorporated into compounds designed for anti-inflammatory, anticancer, or neurological applications. Researchers leverage its indazole core to enhance the binding affinity and selectivity of potential drug candidates. Additionally, it serves as a building block in organic synthesis for creating more complex molecules with tailored biological activities.