Primarily used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of potential therapeutic agents, including anti-inflammatory and anticancer drugs. Its nitro group and indazole core structure make it a versatile building block in medicinal chemistry for designing compounds with targeted biological activities. Additionally, it has been explored in the study of enzyme inhibition and receptor modulation, contributing to advancements in drug discovery and development.