This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly those involved in photodynamic therapy and cancer treatment. Its structure allows it to act as a key intermediate in the production of photosensitizers, which are used to target and destroy cancer cells when exposed to specific light wavelengths. Additionally, it finds application in organic synthesis for creating complex molecules with potential biological activity. Its nitro and ester functional groups make it a versatile building block in the development of novel therapeutic agents and research chemicals.