Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of antiviral and antibacterial agents. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for building complex molecules. The oxetane ring contributes to metabolic stability and improved pharmacokinetic properties in drug candidates. It is also employed in the preparation of enzyme inhibitors and bioactive molecules where ring strain and polarity play a role in enhancing binding affinity.