Used primarily as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the production of certain antiviral and antibacterial agents. Its strained cyclopropane ring combined with the hydroxyl and dimethylamino functional groups makes it valuable for constructing complex molecular frameworks. It is often employed in medicinal chemistry for building bioactive molecules where conformational rigidity enhances target selectivity. Additionally, it serves as a building block in the development of central nervous system agents due to its ability to cross the blood-brain barrier. Its versatility in ring-opening reactions and nucleophilic additions supports its use in creating diverse compound libraries for drug discovery.