Used as a fluorescent probe in biochemical assays due to its strong emission properties in organic solvents. Its planar aromatic structure allows for intercalation into DNA, making it useful in studying nucleic acid interactions. Also employed in organic electronics as an electron-accepting material in thin-film transistors. Shows potential in photodynamic therapy research owing to its ability to generate singlet oxygen under light irradiation. Serves as a building block in the synthesis of more complex phenalenone derivatives with tailored optical and electronic properties.