Used in the synthesis of tyrosine kinase inhibitors, particularly in pharmaceutical research targeting cancer treatments. It serves as an intermediate in creating compounds that modulate cell signaling pathways involved in tumor growth. Its structure supports the development of molecules with high selectivity for kinase receptors, making it valuable in medicinal chemistry for drug discovery. Also utilized in radiolabeled forms for imaging studies due to the presence of iodine, aiding in the visualization of biological targets.