This compound is primarily utilized in organic synthesis as a versatile intermediate for the preparation of various cyclopropane-containing molecules. Its structure, featuring both a hydroxymethyl and an ester group, makes it a valuable building block in the development of pharmaceuticals, agrochemicals, and fine chemicals. Specifically, it is often employed in the synthesis of cyclopropane-based drugs, where the cyclopropane ring enhances the biological activity and stability of the compounds. Additionally, it serves as a precursor in the creation of complex organic frameworks, enabling the construction of molecules with specific stereochemistry and functional properties. Its reactivity allows for further modifications, such as ester hydrolysis or substitution reactions, making it a key component in the design of novel chemical entities.