Used in organic synthesis as a key intermediate for the production of various pharmaceuticals and bioactive compounds. It plays a role in the development of drugs targeting neurological disorders, such as cognitive enhancers or treatments for neurodegenerative diseases. Additionally, it is utilized in the synthesis of peptidomimetics, which are important in designing enzyme inhibitors and receptor modulators. Its ester group makes it a versatile building block for further chemical modifications in medicinal chemistry research.