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 a valuable scaffold for designing drugs that target the central nervous system, particularly in the development of treatments for neurological disorders such as Parkinson's disease and schizophrenia. Additionally, it is explored for its potential in creating compounds with anti-inflammatory and analgesic properties, contributing to the development of new pain management therapies. Researchers also investigate its role in modulating neurotransmitter systems, which could lead to advancements in psychiatric medications.