Used as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system agents. It serves as a building block for novel receptor modulators due to its rigid cyclobutane structure and aromatic substitution pattern. Commonly employed in medicinal chemistry for structure-activity relationship studies, especially in serotonin and dopamine receptor ligand research. Also utilized in the preparation of bioactive molecules where amine functionality allows for further derivatization through amide or sulfonamide formation.