Used in organic synthesis as a key intermediate for the production of various pharmaceuticals, particularly in the development of prostaglandins and related compounds. It plays a significant role in constructing cyclopentane rings, which are essential structures in many biologically active molecules. Additionally, it is utilized in research for creating complex organic molecules due to its reactive functional groups, enabling further chemical modifications. Its application extends to the field of medicinal chemistry, where it aids in the design and synthesis of drug candidates with potential therapeutic effects.