Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the development of drugs targeting neurological disorders, as it can influence neurotransmitter activity. Additionally, it is explored in the creation of novel anticancer agents due to its ability to interact with specific cellular pathways. The compound's unique cyclopropyl group enhances its binding affinity to certain biological targets, making it a promising candidate for medicinal chemistry applications. Researchers also investigate its potential in designing fluorescent probes for imaging and diagnostic purposes, leveraging its naphthalene core for optical properties.