Used as a key intermediate in the synthesis of indole-based pharmaceuticals, particularly in the preparation of tryptophan derivatives and bioactive molecules with potential antitumor, antiviral, and anti-inflammatory properties. Its structure allows for easy functionalization at the indole ring and ester group, making it valuable in medicinal chemistry for building complex heterocyclic compounds. Commonly employed in research settings to develop new drug candidates targeting neurological disorders and cancer. Also utilized in the preparation of fluorescent probes due to the inherent optical properties of the indole scaffold.