Used primarily in pharmaceutical research as a key intermediate in the synthesis of biologically active compounds. Shows potential in the development of kinase inhibitors, which are important in cancer therapy due to their role in blocking signaling pathways involved in tumor growth. Also utilized in the preparation of indirubin analogs, known for their anti-inflammatory and antiproliferative properties. Its bromo and methyl functional groups allow for further chemical modifications, making it valuable in structure-activity relationship (SAR) studies for drug optimization. Additionally, employed in dye synthesis and materials science due to its conjugated structure and ability to form stable derivatives.