This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a chiral building block for the development of complex molecules, particularly in the synthesis of enantiomerically pure compounds. Its anthracene moiety makes it useful in fluorescence studies and as a probe in biochemical research to study molecular interactions and binding mechanisms. Additionally, it is explored in the design of potential therapeutic agents, especially in targeting specific biological pathways due to its structural uniqueness. Its hydrochloride form enhances solubility, making it suitable for various experimental and industrial applications.