Used in medical research as a key intermediate in the synthesis of targeted cancer therapies, particularly in the development of tyrosine kinase inhibitors. Its structure supports binding to specific enzyme active sites, making it valuable in creating compounds that modulate cell signaling pathways involved in tumor growth. Also employed in radiopharmaceutical studies due to the presence of iodine atoms, which can be replaced with radioactive isotopes for imaging and diagnostic applications. Additionally, the compound's stability and solubility profile make it suitable for formulation development in preclinical drug delivery systems.