This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various bioactive molecules, particularly those targeting neurological and inflammatory disorders. Its cyclopropane ring structure is significant in drug design due to its ability to enhance the stability and bioavailability of therapeutic agents. Additionally, it is employed in the study of enzyme inhibition and receptor binding, aiding in the discovery of new drugs with improved efficacy and reduced side effects.