This chemical is primarily utilized in biochemical research and lipid studies. It serves as a specialized phospholipid analog, often employed in membrane studies to investigate lipid behavior, interactions, and dynamics. Its unique structure, incorporating a nitrophenyl group, makes it useful in spectrophotometric assays to study lipid-protein interactions or membrane fusion processes. Additionally, it can be used as a substrate in enzymatic studies to explore the activity of phospholipases, particularly phospholipase A2, and other lipid-modifying enzymes. Its application extends to the development of liposomal drug delivery systems, where it aids in understanding the stability and functionality of lipid-based carriers.