Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Its strained cyclobutane ring fused to an aromatic system makes it valuable in developing novel drug candidates, particularly in central nervous system agents. The amine functionality allows for easy derivatization, enabling the formation of amides, sulfonamides, or heterocycles. Also explored in materials science for designing rigid, three-dimensional molecular architectures that influence electronic or optical properties. Limited stability due to ring strain requires careful handling, but its unique geometry supports structure-activity relationship studies in medicinal chemistry.