Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its spiroindane structure is particularly valuable in developing compounds with potential central nervous system activity, such as antidepressants or antipsychotics. Researchers leverage its unique scaffold to enhance drug binding affinity and selectivity towards specific receptors. Additionally, it plays a role in the development of novel therapeutics targeting neurological disorders, owing to its ability to cross the blood-brain barrier effectively. Its hydrochloride form ensures stability and solubility, making it suitable for laboratory and industrial applications.