Primarily utilized in organic synthesis, this compound serves as a versatile building block for the construction of complex molecular frameworks. Its bicyclic structure is particularly valuable in the development of pharmaceuticals, where it can be incorporated into drug molecules to enhance stability and bioavailability. Additionally, it finds application in the field of materials science, contributing to the synthesis of novel polymers with unique properties. The hemioxalate form further aids in improving solubility and handling characteristics, making it a practical choice for various chemical processes.