Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs). It serves as a building block in asymmetric synthesis, enabling the development of enantiomerically pure compounds. Also employed in the preparation of cyclopentanoid analogs for medicinal chemistry research, including central nervous system agents. Its structural rigidity makes it valuable in designing bioactive molecules with improved metabolic stability and receptor selectivity.