This compound is primarily utilized in the synthesis of various organic molecules, particularly in the development of heterocyclic compounds. It serves as a key intermediate in the production of pharmacologically active substances, including potential anticancer and antimicrobial agents. Its structure is valuable in medicinal chemistry for designing and optimizing drug candidates. Additionally, it is employed in research settings to study chemical reactions involving benzopyran derivatives, aiding in the discovery of novel compounds with therapeutic properties. Its nitro and carboxylate functional groups make it a versatile building block for further chemical modifications.