This compound is primarily utilized in the field of medicinal chemistry as an intermediate in the synthesis of various pharmaceuticals. 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 disorders. Researchers leverage its structure to design and optimize molecules that target specific receptors in the brain, aiming to create drugs for conditions such as depression, anxiety, and epilepsy. Its unique chemical framework allows for modifications that enhance drug efficacy and reduce side effects, making it a valuable component in drug discovery and development processes.