Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of cannabinoid receptor modulators. It serves as a building block for active pharmaceutical ingredients (APIs) targeting central nervous system disorders. Its structure allows for functionalization at multiple sites, enabling the creation of analogs for structure-activity relationship (SAR) studies in drug discovery. Commonly employed in research settings to develop compounds with potential analgesic, anti-inflammatory, or neuroprotective effects.