Compounds of formula (I) and II) are provided wherein: X is an alkali metal or a basic amine moiety; R.sub.1 is alkyl, cycloalkyl, --CH.sub.2-cycloalkyl, pyridinyl, --CH.sub.2-pyridinyl, phenyl or benzyl, the rings of these groups being optionally substituted; R.sub.2 is H, halogen, alkyl, perfluoroalkyl, alkoxy, cycloalkyl, --CH.sub.2-cycloalkyl, --NH.sub.2, or --NO.sub.2; R.sub.3 is phenyl, benzyl, benzyloxy, pyridinyl, or --CH.sub.2-pyridinyl, with the rings of these groups being optionally substituted; or a pharmaceutically acceptable salt or ester form thereof, as well as pharmaceutical compositions and methods using these compounds as inhibitors of plasminogen activator inhibitor-1 (PAI-1) and as therapeutic compositions for treating conditions resulting from fibrinolytic disorders such as deep vein thrombosis and coronary heart disease, and pulmonary fibrosis.