This compound is primarily utilized in pharmaceutical research as a chiral building block for the synthesis of complex molecules. Its structure, featuring an indene core and an ester group, makes it valuable for developing active pharmaceutical ingredients (APIs), particularly in the creation of enantiomerically pure drugs. The presence of the amino group allows for further functionalization, enabling its incorporation into larger molecular frameworks. It is often employed in the development of CNS (central nervous system) drugs due to its potential to interact with biological targets in the brain. Additionally, its hydrochloride form enhances solubility, making it more suitable for use in aqueous-based reactions and formulations. Researchers also explore its application in asymmetric synthesis, leveraging its chiral center to induce stereoselectivity in chemical reactions.