Used in the synthesis of pharmaceutical intermediates, particularly in the development of selective estrogen receptor modulators (SERMs). It serves as a building block for compounds with potential applications in hormone replacement therapy and the treatment of hormone-related cancers. Its structure allows for functionalization at the alcohol group, enabling coupling reactions to form esters, ethers, or more complex molecules. Also employed in research settings for the preparation of novel bioactive molecules and in the optimization of drug candidates requiring a rigid hydrophobic moiety.