Used primarily as a key intermediate in organic synthesis, especially in the preparation of pharmaceuticals and biologically active compounds. Its strained cyclopropane ring and reactive acid chloride group make it valuable for constructing complex molecular frameworks. It is commonly employed in acylation reactions to introduce the 2-phenylcyclopropanoyl moiety into amines or alcohols, forming amides or esters that serve as building blocks in drug development. Notably, derivatives made from this compound appear in research on central nervous system agents and enzyme inhibitors. Its reactivity also supports use in ring-expansion and cycloaddition reactions, enabling access to novel heterocyclic systems.