Used in the synthesis of antiparasitic and antitumor agents due to its ability to intercalate DNA and inhibit topoisomerase enzymes. Its derivatives show activity against trypanosomes and leishmania, making it a lead compound in developing treatments for neglected tropical diseases. Also explored in medicinal chemistry for creating fluorescent probes in cellular imaging because of its strong photostability and emission properties in the visible range. Commonly utilized in research settings to design novel heterocyclic compounds with enhanced biological activity.