This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological disorders and cancer. Its structure, featuring a spirocyclopropane and indolinone framework, is often explored for its potential to modulate enzyme activity and receptor binding, making it valuable in drug discovery. Additionally, it is studied for its role in developing novel inhibitors and therapeutic agents due to its unique chemical properties.