Used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of drugs targeting neurological disorders due to its structural properties, which can influence receptor activity in the brain. Additionally, it is employed in the creation of novel compounds for potential therapeutic applications, including anti-inflammatory and analgesic agents. Its oxetane ring structure contributes to enhanced metabolic stability and bioavailability in drug candidates. Researchers also explore its utility in organic synthesis for constructing complex molecules with potential medicinal benefits.