This compound is primarily used in the synthesis of pharmaceutical agents, particularly in the development of central nervous system (CNS) drugs. Its structure, featuring a cyclopentane ring with hydroxyl and methylamino groups, makes it a valuable intermediate in creating molecules that interact with neurotransmitter systems. It is often utilized in the production of compounds targeting adrenergic and dopaminergic receptors, which are critical in treating conditions like Parkinson's disease, depression, and ADHD. Additionally, its stereochemistry allows for the creation of enantiomerically pure drugs, enhancing efficacy and reducing side effects.