This compound is primarily utilized in organic synthesis as a key intermediate for the preparation of various pharmacologically active molecules. Its hydrazine moiety makes it valuable in the synthesis of heterocyclic compounds, which are often explored for their potential therapeutic properties. It is particularly useful in the development of drugs targeting neurological disorders, due to its structural similarity to bioactive molecules that interact with the central nervous system. Additionally, its ester and methoxy groups provide reactive sites for further chemical modifications, enabling the creation of diverse derivatives for drug discovery and development. Researchers also employ it in the synthesis of dyes and pigments, leveraging its aromatic structure to produce stable and vibrant colorants.