Used primarily as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. It plays a role in the preparation of active pharmaceutical ingredients (APIs) targeting inflammatory diseases and neurological disorders. Its carboxylic acid and indazole functionalities allow for easy derivatization, making it valuable in medicinal chemistry for building more complex drug-like molecules. Also utilized in research settings for designing selective probes in biochemical assays.