This chemical is primarily utilized in organic synthesis as a key intermediate for the development of complex molecules, particularly in pharmaceutical research. It serves as a building block in the synthesis of various biologically active compounds, including potential drug candidates. Its bicyclic structure is valuable in creating frameworks for molecules with therapeutic properties, such as antiviral, antibacterial, or anti-inflammatory agents. Additionally, it is often employed in the study of stereochemistry and reaction mechanisms due to its unique structural features, aiding in the exploration of novel synthetic pathways.