Used primarily as a key intermediate in the synthesis of prostaglandins, which are biologically active compounds involved in inflammation, blood flow, and reproductive processes. Its strained bicyclic structure and functional groups make it valuable in constructing complex organic molecules, especially in pharmaceutical research. Commonly employed in ring-opening and cycloaddition reactions to build chiral centers with high stereocontrol. Also utilized in academic and industrial settings for developing new synthetic methodologies and exploring reaction mechanisms in organic chemistry.