This compound 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 drugs with specific stereochemical requirements, particularly in the creation of antiviral and antibacterial agents. Additionally, it serves as a building block in the production of complex organic molecules used in medicinal chemistry research. Its stability and reactivity allow for efficient incorporation into larger molecular frameworks, aiding in the development of novel therapeutic compounds.