Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. It serves as a building block in medicinal chemistry due to its ability to interact with biological targets through hydrogen bonding and π-π stacking interactions. Also employed in the preparation of fluorescent probes and imaging agents owing to its favorable photophysical properties. Its structural rigidity makes it suitable for structure-activity relationship (SAR) studies in drug design.