Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and other bioactive molecules. Its structure enables functionalization for creating compounds with potential antitumor, anti-inflammatory, and central nervous system activities. Commonly employed in medicinal chemistry research for building heterocyclic scaffolds that enhance drug-like properties. Also utilized in the preparation of fluorescent dyes and optoelectronic materials due to its conjugated aromatic system.