Used primarily as an intermediate in organic synthesis, this compound plays a key role in the development of advanced pharmaceuticals and bioactive molecules. Its complex polycyclic structure and functional groups make it valuable for constructing nitrogen- and oxygen-containing heterocycles, which are common scaffolds in medicinal chemistry. The presence of a nitro group allows for further transformations, such as reductions to amines, enabling the synthesis of more complex derivatives for drug discovery. Additionally, the ester functionality can be hydrolyzed or coupled to other molecules, facilitating its use in prodrug design or as a building block in combinatorial chemistry. Its application extends to research settings where highly substituted hydroindane frameworks are needed to study structure-activity relationships in potential therapeutic agents.