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 fused heterocyclic structure, which can interact with biological targets involved in cell signaling pathways. Its carboxylic acid and carbonyl functional groups allow for easy derivatization, enabling the preparation of amides, esters, and other analogs for structure-activity relationship studies. Also employed in the design of antimicrobial and anti-inflammatory agents in research settings.