This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive compounds. Its unique bicyclic structure makes it valuable for developing drugs that target the central nervous system, particularly in the creation of analgesics and antispasmodic agents. Additionally, it serves as a building block in the production of ligands for receptor studies, aiding in the understanding of neurological pathways and drug-receptor interactions. Its application extends to research in medicinal chemistry, where it is used to explore novel therapeutic agents with potential for treating neurological disorders.