This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of pharmaceutical agents, especially those targeting specific enzymes or receptors involved in disease pathways. Researchers often employ it to create derivatives that can be screened for potential therapeutic effects, such as anti-inflammatory, antiviral, or anticancer properties. Additionally, its unique bicyclic framework makes it a useful building block in the design of novel compounds for drug discovery programs.