Used primarily as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the production of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system agents. Its cyclopropyl structure with a chlorinated aryl group enables strong binding affinity to biological targets, making it valuable in developing antidepressants and anxiolytic drugs. The hydroxyl functional group allows for easy derivatization, facilitating coupling reactions in multi-step drug synthesis. It is also employed in the preparation of chiral building blocks for asymmetric synthesis in medicinal chemistry.