Used in pharmaceutical research, it serves as a key intermediate in the synthesis of various bioactive compounds. Its structure is valuable in developing potential drug candidates, particularly for targeting neurological disorders and metabolic diseases. The compound is also employed in organic synthesis to create complex cyclobutane derivatives, which are explored for their unique chemical properties in medicinal chemistry. Additionally, it aids in the study of ring strain and stereochemistry in small cyclic molecules, contributing to advancements in drug design and molecular modeling.