Used as an intermediate in pharmaceutical synthesis, particularly in the development of kinase inhibitors and other biologically active compounds. Its indazole core is valuable in medicinal chemistry for constructing drug candidates targeting inflammation, cancer, and central nervous system disorders. The hydroxymethyl group allows for further functionalization, enabling the creation of prodrugs or conjugates. The tert-butyl carbamate (Boc) group provides stability during synthesis and can be easily removed under mild acidic conditions, making it suitable for multi-step reactions in drug discovery.