Widely utilized in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its unique spirocyclic structure makes it valuable in developing drugs targeting neurological disorders, particularly those involving the central nervous system. Additionally, it is employed in the creation of ligands for receptor studies, aiding in the understanding of complex biochemical pathways. The compound's versatility also extends to its use in organic synthesis, where it acts as a building block for more complex chemical entities. Its stability and reactivity profile make it a preferred choice in medicinal chemistry for designing novel therapeutic agents.