Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of kinase inhibitors for targeted cancer therapies. Its structure supports binding to specific enzyme active sites, enhancing selectivity and potency. Also employed in research for designing fluorescent probes due to its indole and phthalimide moieties, which contribute to favorable photophysical properties. Additionally, it serves in the preparation of bioactive molecules in medicinal chemistry due to its ability to cross cell membranes and interact with biological targets.