This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its unique bicyclic structure makes it valuable for developing compounds with potential therapeutic effects, particularly in the areas of central nervous system (CNS) disorders and neurological diseases. Researchers leverage its framework to create molecules that may interact with specific biological targets, such as receptors or enzymes, to modulate their activity. Additionally, it is explored in the development of novel drugs for treating conditions like depression, anxiety, and chronic pain due to its ability to influence neurotransmitter systems. Its application extends to organic synthesis, where it serves as a building block for complex chemical structures in medicinal chemistry.