Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system agents. Its structure supports the creation of bioactive molecules due to the presence of a rigid cyclopropane ring and a benzodioxole moiety, which can enhance binding to biological targets. Commonly employed in the preparation of analogs for dopamine and serotonin receptor modulators. Also utilized in research settings for designing novel compounds with potential antidepressant, anxiolytic, or anti-addictive properties. Its carboxylic acid group allows for easy derivatization, making it valuable in medicinal chemistry for amide bond formation and prodrug strategies.