This compound is primarily utilized in the field of medicinal chemistry as an intermediate in the synthesis of various pharmaceutical agents. It plays a crucial role in the development of tricyclic compounds, which are often explored for their potential therapeutic effects, particularly in the treatment of neurological and psychiatric disorders. Researchers leverage its structural framework to design and optimize molecules that target specific receptors in the brain, such as those involved in mood regulation and cognitive function. Additionally, its derivatives are investigated for their potential as anticonvulsants or antidepressants, contributing to advancements in the treatment of conditions like epilepsy and depression. Its versatility in chemical synthesis makes it a valuable component in drug discovery and development processes.