Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) agents. Its structure supports the creation of bioactive molecules due to the strained cyclopropane ring and electron-rich aryl group, enhancing binding affinity to certain receptors. Commonly employed in research settings for designing analogs of natural products and neuroactive compounds. Also utilized in the preparation of selective enzyme inhibitors and receptor modulators, especially in early-stage drug discovery.