Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of steroid receptor modulators. It plays a role in creating compounds with potential hormonal activity, including selective estrogen receptor modulators (SERMs), which are investigated for use in hormone-related cancers and osteoporosis. Its structure allows for functionalization at key positions, making it valuable in medicinal chemistry for building biologically active molecules. Also utilized in research settings to explore new therapeutic agents and reaction pathways in organic synthesis.