Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of biologically active compounds with cyclopentane-based structures. Its functional groups allow for selective modifications, making it valuable in creating chiral building blocks for drug discovery. Commonly employed in the preparation of enzyme inhibitors and central nervous system agents due to its rigid cyclic framework and stereochemical properties. Also utilized in the design of prodrugs where ester and carboxylic acid functionalities enable improved bioavailability.