Used primarily in organic synthesis and pharmaceutical research, this compound serves as a structural scaffold for developing bioactive molecules. Its fused ring system provides rigidity and specific stereochemistry that can enhance binding affinity to certain biological targets. It has been explored in the development of central nervous system agents and anti-inflammatory compounds due to its ability to mimic natural aromatic and heterocyclic motifs in drug design. Additionally, derivatives of this core structure have shown potential in preclinical studies for treating neurodegenerative conditions, leveraging the compound's lipophilicity and stability in metabolic environments.