Used in the synthesis of pharmaceutical intermediates, particularly in the development of selective estrogen receptor modulators (SERMs). Its structure supports the creation of compounds with activity in hormone-related therapies, including treatments for osteoporosis and certain types of breast cancer. The compound serves as a building block in medicinal chemistry due to its fused ring system and functional groups that allow further chemical modifications. It is also employed in research settings for exploring structure-activity relationships in steroid-like molecules.