Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system (CNS) agents. Its structure allows for selective binding to receptor sites, making it valuable in the creation of novel antidepressants and antipsychotics. Commonly employed in medicinal chemistry research for structure-activity relationship (SAR) studies due to the constrained cyclobutane ring and halogenated aromatic group. Also utilized in the preparation of radiolabeled derivatives for use in positron emission tomography (PET) imaging probes.