Used primarily in pharmaceutical research as a key intermediate in the synthesis of bioactive compounds, particularly those targeting central nervous system disorders. Its tricyclic structure provides a scaffold for developing molecules with anxiolytic, anticonvulsant, and sedative properties. It is also explored in the design of novel ligands for neurotransmitter receptors, especially GABA and serotonin receptors, due to its structural similarity to known psychoactive agents. Additionally, derivatives of this compound are investigated for potential antitumor and antimicrobial activities in medicinal chemistry.