Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of potential anticancer and anti-inflammatory agents. Researchers utilize it to explore its interactions with specific enzymes and receptors, aiming to design novel therapeutic drugs. Additionally, it plays a role in organic synthesis for creating complex indazole derivatives, which are studied for their pharmacological properties. Its nitro and methyl groups make it a versatile building block in medicinal chemistry.