This chemical is primarily used in the synthesis of pharmaceutical compounds, particularly in the development of drugs targeting specific enzymes or receptors. Its structure allows it to act as a key intermediate in creating molecules with potential therapeutic effects, such as anti-inflammatory or antimicrobial agents. Additionally, it finds application in organic chemistry research, where it serves as a building block for constructing more complex chemical structures. Its nitro and hydroxyl groups make it a versatile reagent in various chemical reactions, including nucleophilic substitutions and cyclizations.