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 binding in biological systems, making it valuable in medicinal chemistry research. Commonly employed in cross-coupling reactions to form complex heterocyclic systems found in bioactive molecules. Also utilized in the preparation of radiolabeled derivatives for use in positron emission tomography (PET) imaging due to the presence of iodine, enabling diagnostic applications in neurology and oncology.