This chemical is primarily used in the field of organic synthesis and research, particularly in the development of novel compounds with potential biological activity. It serves as a key intermediate in the preparation of complex molecules, often explored for their pharmacological properties. Researchers utilize it to study its interactions with biological targets, such as enzymes or receptors, to assess its potential in drug discovery. Additionally, it may be employed in the synthesis of dyes or pigments due to its naphthalene moiety, which contributes to its chromophoric properties. Its oxalate form enhances stability, making it suitable for storage and handling in laboratory settings.