Used primarily as an intermediate in organic synthesis, this compound plays a key role in the preparation of pharmaceuticals and bioactive molecules. Its structure supports further chemical modifications, especially in the development of nitro-containing heterocyclic compounds that exhibit antimicrobial or anti-inflammatory properties. It is also employed in research settings to explore new synthetic pathways in indene chemistry, particularly for creating fused ring systems with potential therapeutic applications. Due to the presence of the nitro group, it serves as a precursor in reduction reactions leading to amino derivatives, which are valuable building blocks in drug design.