This chemical is primarily utilized in the pharmaceutical and organic synthesis industries. It serves as a key intermediate in the production of various biologically active compounds, particularly in the development of therapeutic agents. Its structure, featuring a cyclopentyl ring and a carbamate group, makes it valuable for constructing complex molecules with specific stereochemistry. It is often employed in the synthesis of drugs targeting neurological disorders, inflammation, and other medical conditions. Additionally, its hydroxyl group allows for further functionalization, enabling chemists to tailor it for specific applications in drug discovery and development. Its stability and reactivity also make it a useful building block in medicinal chemistry research.