This compound is primarily utilized in organic synthesis as an intermediate for the preparation of more complex molecules, particularly in pharmaceutical research. It serves as a key building block in the development of cyclobutane-based compounds, which are often explored for their potential therapeutic properties. The presence of both the tert-butoxycarbonyl (Boc) protecting group and the hydroxyl functionality allows for selective modifications, enabling the synthesis of targeted molecules with specific biological activities. Additionally, its cyclobutane ring structure is of interest in drug design due to its conformational rigidity, which can enhance binding affinity to biological targets. This chemical is also employed in the study of stereochemistry and ring-strain effects in organic reactions.