Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. It serves as a building block in medicinal chemistry due to its indazole core, which is known for its biological activity. Commonly employed in the preparation of selective inhibitors targeting enzymes such as PDE5 and Aurora kinases. Also utilized in research settings for the design of novel bioactive molecules with potential anti-inflammatory and neuroprotective properties. Its benzyl-protected hydroxyl group allows for selective deprotection and further functionalization in multi-step organic syntheses.