This compound is primarily explored in the field of medicinal chemistry due to its structural similarity to tropane alkaloids. It is often investigated for its potential as a central nervous system (CNS) agent, particularly in the development of drugs targeting neurological disorders. Its oxime functional group makes it a candidate for further chemical modifications, enhancing its binding affinity to specific receptors. Researchers also study its potential applications in treating conditions like Parkinson's disease, depression, or anxiety, as it may interact with neurotransmitter systems. Additionally, its bicyclic structure is of interest in synthesizing analogs for pharmacological screening, aiming to discover novel therapeutic agents.