This compound is primarily utilized in organic synthesis as a chiral building block for the preparation of more complex molecules. Its structure, featuring a cyclopentyl ring with hydroxyl and carbamate functional groups, makes it valuable in the development of pharmaceuticals, particularly in the synthesis of enantiomerically pure drugs. It is often employed in the construction of active pharmaceutical ingredients (APIs) where stereochemistry plays a critical role in biological activity. Additionally, it serves as a protective group for amines during multi-step synthetic processes, ensuring selective reactivity in the presence of other functional groups. Its stability and ease of deprotection make it a practical choice in medicinal chemistry and drug discovery.