Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its nitro group and benzofuranone structure make it valuable for constructing complex molecules, particularly in the development of drugs targeting inflammation, cancer, and infectious diseases. Additionally, it is employed in research for studying reaction mechanisms and developing new synthetic methodologies. Its versatile reactivity allows for modifications that enhance the efficacy and specificity of bioactive compounds.