This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various bioactive molecules. Its structure, featuring both a hydroxyl group and a carboxylate ester, makes it a versatile building block for constructing complex organic compounds, particularly in the production of pyrrolidine-based drugs. It is often employed in the preparation of inhibitors, receptor antagonists, and other therapeutic agents targeting neurological and inflammatory disorders. Additionally, its stability and reactivity under mild conditions make it suitable for use in multi-step synthetic pathways, enabling the efficient creation of diverse chemical libraries for drug discovery.