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 design and production of indazole-based compounds, which are explored for their potential therapeutic applications. Researchers utilize it to develop inhibitors targeting specific enzymes or receptors, making it relevant in the study of diseases such as cancer, inflammation, and neurological disorders. Additionally, it is employed in organic synthesis to create complex molecules for drug discovery programs, contributing to the advancement of medicinal chemistry.