This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of various drugs, especially those targeting viral infections and certain types of cancers. Its unique cyclopropane structure allows it to act as a building block in the creation of bioactive molecules with enhanced stability and specificity. Additionally, it is employed in the development of peptide-based therapeutics, where its protective tert-butoxycarbonyl (Boc) group helps in the controlled assembly of peptide chains. Its vinyl group further enables it to participate in various chemical reactions, such as cross-coupling and polymerization, making it versatile in drug design and material science applications.