This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. Its structure, featuring a chromenopyrazole core, makes it a valuable intermediate in designing molecules with potential biological activity. It is often explored for its role in targeting specific enzymes or receptors involved in diseases such as cancer, inflammation, or neurological disorders. Researchers also investigate its potential as a building block for developing inhibitors or modulators of protein-protein interactions. Additionally, its nitro and carboxyl groups provide sites for further chemical modifications, enabling the creation of derivatives with enhanced pharmacological properties.