Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) agents. Its rigid cyclobutane ring with a phenyl substituent provides structural uniqueness that enhances binding selectivity to certain biological targets. Employed in the preparation of novel antidepressants, anxiolytics, and anticonvulsant drugs. Also utilized in medicinal chemistry research for structure-activity relationship (SAR) studies due to its stereochemical properties and ability to influence metabolic stability.