Used in pharmaceutical research as a key intermediate in the synthesis of neuroactive compounds, particularly those targeting serotonin and dopamine receptors. Its rigid polycyclic structure and functionalized side chain make it suitable for developing central nervous system agents, including potential antipsychotics and antidepressants. Also explored in the design of selective receptor modulators due to its ability to mimic endogenous neurotransmitter geometry. Limited use in industrial applications; primarily confined to laboratory-scale medicinal chemistry.