Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for selective modification, making it valuable in creating bioactive molecules with improved potency and specificity. Commonly employed in medicinal chemistry for constructing pyrazole-containing drug candidates that target inflammatory and oncological pathways. Also utilized in the preparation of fluorescent probes due to its favorable electronic properties, aiding in biochemical imaging and assay development.