Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and other bioactive molecules. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for creating drug candidates targeting cancer and inflammatory diseases. Commonly employed in conjugation reactions to link active pharmaceutical ingredients with targeting moieties or solubility-enhancing groups. Also utilized in the preparation of ligands for receptor binding studies due to its favorable interaction with biological targets.