Used in research as a potential photosensitizer in photodynamic therapy due to its ability to generate reactive oxygen species under light exposure. Shows promise in organic electronics for light-harvesting applications because of its extended conjugated structure and nitro group that influences electron affinity. Also investigated as a building block in the synthesis of nitrogen-containing polycyclic compounds for pharmaceutical development. Its unique fused ring system makes it suitable for studying molecular interactions in crystal engineering and supramolecular chemistry.