Disclosed herein are novel bifunctional compounds and their uses for the treatment and/or prophylaxis of cancers. The bifunctional compound disclosed herein has the structure of formula (I), wherein, optionally substituted with one or more substituents independently selected from the group consisting of halo, alkyl, haloalkyl, alkenyl, C(O)H, OH, O(alkyl), O(CO)alkyl, O(aryl), aryl, and —O(CH2)xN(Rb)2; R1 is an alkyl optionally substituted with one or more substituents independently selected from the group consisting of halo, —OR, —O(CO)CH3, —OSO2R, and —OCONHR; R is hydrogen, alkyl, cycloalkyl, or aryl; R2 is hydrogen, alkyl, cycloalkyl, aryl or heteroaryl, in which the aryl or heteroaryl is optionally substituted with one or more substituents independently selected from the group consisting of C1-6 alkyl, O(alkyl), halo, cyano, nitro, —N(Rc)2, OCH2O—, O(CH2)2O—, pyrrolidinyl, piperidinyl, piperazinyl, morpholino, and 4—(piperido)piperidinyl; R3 is -NRARB, or -NHPhRC, or -NRARB are taken together to form pyrrolidin-l-yl, piperidin-l-yl, piperazin-l-yl, morpholin-4-yl, 4-(piperidin-l-y)piperidin-l-yl, or 4-(piperidin-4-yl)piperidin-l-yl, wherein the piperazin-l-yl or 4-(piperidin-4-yl) piperidin-l-yl is optionally substituted with one or more substituents independently selected from the group consisting of alky, and —(CH2)nCONH(CH2)mNRARB; RA and RB are independently H or C1-C6 alkyl; RC is hydrogen, halo, alkyl, alkenyl, alknyl, O(alkyl), —NHCORa, —NHC(O)ORa, heterocyclyl or aryl, in which the alkyl is optionally substituted with one or more substituents independently selected from the group consisting of halo, alkyl, haloalkyl, alkenyl C(O)H, OC(O)alkyl, O(aryl), and aryl, in which the aryl is optionally substituted with one or more substituents independently selected from the group consisting of halo, CN, C1-6 alkyl, N(Rc)2, NO2, O(alkyl), —OCH2O—, —O(CH2)2O—,pyrrolidinyl, pepiridinyl, piperazinyl, morpholino, and 4-(piperido)piperidinyl; Ra is C1-6 alkyl or aryl; Rb is C1-10 alkyl, pyrrolidin-l-yl, piperidin-l-yl, piperazin-l-yl, morpholin-4-yl, 4-(piperidin-l-yl)piperidin-l-yl, or 4-(piperidin-4-yl)piperidin-l-yl; Rc, is hydrogen or C1-10 alkyl; and. x, n and m are independently an integral between 1 to 5.