This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of chiral molecules, particularly those targeting neurological and cardiovascular disorders. Its unique structure, featuring adamantane and phenyl groups, allows it to act as a building block for developing drugs with high selectivity and efficacy. It is often employed in the preparation of receptor antagonists or enzyme inhibitors, where its stereochemistry plays a critical role in binding affinity. Additionally, its hydrochloride form enhances solubility, making it suitable for formulation in various drug delivery systems. Research also explores its potential in designing treatments for viral infections due to the adamantane moiety's known antiviral properties.