Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of antiviral and antibacterial agents. Its unique cyclopropyl and hydroxyacetic structure allows for selective reactivity, making it valuable in constructing complex organic molecules. Commonly employed in the development of prodrugs due to its ability to enhance metabolic stability and bioavailability. Also utilized in research settings for designing enzyme inhibitors and studying reaction mechanisms involving strained ring systems.