This compound is primarily utilized in the pharmaceutical and organic synthesis industries. It serves as a key intermediate in the production of various bioactive molecules, particularly those involved in the development of antiviral and anticancer drugs. Its structural features, including the cyclopropyl and hydroxymethyl groups, make it valuable for designing compounds with enhanced stability and biological activity. Additionally, it is employed in research settings for studying cyclopropane ring systems and their interactions in medicinal chemistry. Its role in synthesizing complex molecules underscores its importance in advancing drug discovery and development.