This compound is primarily utilized in the treatment of chronic myeloid leukemia (CML) and Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL). It functions as a potent inhibitor of the BCR-ABL tyrosine kinase, which is the abnormal protein responsible for the uncontrolled proliferation of cancer cells in these conditions. By targeting and blocking this protein, it helps to halt the progression of the disease and induces remission in patients. Additionally, it is effective in cases where resistance or intolerance to other similar therapies has developed, making it a crucial option for patients with limited treatment alternatives. Its use is often monitored through regular blood tests and medical evaluations to ensure optimal dosing and to manage potential side effects.