This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. Its unique bicyclic structure makes it a valuable building block in medicinal chemistry, often employed to create molecules with enhanced biological activity or improved pharmacokinetic properties. It is commonly used in the design of small-molecule inhibitors targeting specific enzymes or receptors, especially in the fields of neuroscience and oncology. Additionally, its amine and alcohol functional groups allow for further chemical modifications, enabling the creation of diverse derivatives for structure-activity relationship (SAR) studies. Its application is also seen in the development of prodrugs, where it can be used to improve drug delivery and bioavailability.