Potent inhibitor of shp2 and shp1 protein tyrosine phosphatases (PTP) (IC50 values are 0.318, 0.355, 1.691, 7.745, 65.617, 84.473 and 150.930 μM for shp2, shp1, PTP1B, HePTP, DEP1, CD45 and LAR respectively). Inhibits EGF-induced Erk1/2 activation in HEK293 cells and significantly reduces MDA-MB-468 cell viability/proliferation.