Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and bioactive molecules. It is particularly valuable in the development of compounds with potential therapeutic effects, such as inhibitors or modulators of specific biological pathways. Researchers also utilize it in the study of enzyme kinetics and receptor binding assays, where its properties help in understanding molecular interactions. Additionally, it finds application in the preparation of dyes and pigments due to its nitro group, which contributes to color development. Its stability and reactivity make it a versatile reagent in laboratory settings.