This chemical is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various therapeutic agents. Its structure allows it to participate in the formation of compounds with potential biological activity, particularly in the development of drugs targeting cardiovascular and metabolic disorders. Additionally, it may be employed in research settings to study the mechanisms of action of certain enzyme inhibitors or receptor modulators. Its nitrate group also makes it a candidate for applications in controlled-release drug formulations, where it can contribute to the stabilization and gradual release of active pharmaceutical ingredients.