This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various bioactive molecules, particularly those targeting neurological and anti-inflammatory pathways. Its structure, featuring both azetidine and ester functional groups, makes it valuable for constructing complex heterocyclic compounds. Researchers often employ it in the synthesis of potential drug candidates, leveraging its reactivity to introduce specific modifications that enhance pharmacological properties. Additionally, it is used in the study of enzyme inhibition and receptor binding assays, aiding in the discovery of novel therapeutic agents.