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 functionalization, making it valuable in creating biologically active molecules. Commonly employed in cross-coupling reactions such as Suzuki and Buchwald-Hartwig aminations to build complex heterocyclic systems found in drug candidates. Also utilized in medicinal chemistry research for exploring new central nervous system agents due to its rigid, planar framework that can interact with neurological receptors.