This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in pharmaceutical research. It serves as a key intermediate in the development of biologically active molecules, including potential drug candidates. Its bicyclic structure and functional groups make it valuable for constructing intricate molecular frameworks, often targeting specific biological pathways. Additionally, it is employed in asymmetric synthesis, where its stereochemistry aids in producing enantiomerically pure compounds. This is crucial for creating drugs with high specificity and reduced side effects. Its application extends to medicinal chemistry, where it contributes to the discovery and optimization of new therapeutic agents.