Used as a key chiral intermediate in the synthesis of pharmaceuticals, particularly in the production of active ingredients for central nervous system (CNS) drugs. Its stereochemistry makes it valuable in developing enantioselective medications, including those targeting neurological and psychiatric disorders. Commonly employed in the manufacture of selective monoamine reuptake inhibitors, where the (S)-enantiomer contributes to enhanced biological activity and improved metabolic stability. Also utilized in research and development for asymmetric synthesis and catalysis due to its rigid indane backbone and functional handle for further chemical modification.