Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of CNS-active agents. Its nitrile group and aromatic structure make it valuable for constructing complex molecules through further functionalization. Commonly employed in medicinal chemistry for structure-activity relationship (SAR) studies due to its rigid cyclobutane core and ability to mimic bioactive conformations. Also utilized in the preparation of kinase inhibitors and serotonin receptor modulators.