This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmacologically active molecules. Its unique bicyclic structure makes it valuable for developing drugs targeting the central nervous system, particularly for conditions like depression, anxiety, and neurodegenerative disorders. Additionally, it is explored in the creation of selective receptor ligands, which can help in understanding and modulating specific biological pathways. Its bromophenyl group further enhances its potential for use in cross-coupling reactions, enabling the construction of more complex molecules in drug discovery and development.