This compound is primarily utilized in the synthesis of various pharmaceutical agents, particularly in the development of drugs targeting the central nervous system. Its structure makes it a valuable intermediate in creating molecules with potential therapeutic effects, such as antidepressants or anxiolytics. Additionally, it is employed in organic chemistry research for the preparation of cyclopentane-based compounds, which are often explored for their biological activity. Its hydrochloride form enhances stability and solubility, making it suitable for use in laboratory settings and industrial-scale production.