Used in pharmaceutical research as a key intermediate in the synthesis of biologically active compounds, particularly those targeting the central nervous system. Its structural features make it valuable in developing drugs with potential analgesic, anticholinergic, or neuroprotective effects. The compound's rigid bicyclic framework and hydroxyl group allow for selective modifications, enabling optimization of pharmacokinetic properties in drug design. It is also explored in the development of receptor ligands, especially for neurological receptors such as muscarinic or opioid receptors.