Used in organic synthesis as a building block for more complex molecules, particularly in the pharmaceutical industry. It serves as an intermediate in the production of drugs targeting neurological disorders, including antidepressants and anticonvulsants. Its unique cyclopropane structure is valuable for creating compounds with specific biological activities. Additionally, it is employed in the development of agrochemicals, contributing to the synthesis of pesticides and herbicides. Its functional groups allow for versatile chemical modifications, making it a useful component in research and industrial applications.