Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of selective estrogen receptor modulators (SERMs). Its structural features allow for functionalization useful in creating bioactive molecules. Commonly employed in research settings for designing drugs targeting hormone-related conditions. Also utilized in the preparation of analogs for structure-activity relationship (SAR) studies due to the stability and reactivity of the cyclopropane ring combined with the nitrile and phenolic groups.