Primarily utilized in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of drugs targeting the central nervous system, where its structural framework can be modified to enhance binding affinity to specific receptors. Additionally, it finds application in the creation of chiral compounds, leveraging its stereochemistry to produce enantiomerically pure substances. Its role in medicinal chemistry is crucial for designing potential treatments for neurological disorders and other conditions requiring precise molecular interactions.