This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various therapeutic agents. Its unique spirocyclic structure makes it valuable in the development of drugs targeting the central nervous system, particularly for conditions like anxiety, depression, and neurodegenerative disorders. Additionally, it is explored for its potential use in creating novel compounds with antipsychotic and analgesic properties. The hydrochloride form enhances its solubility, making it suitable for formulation into injectable or oral medications. Researchers also investigate its role in modulating specific receptors or enzymes, contributing to advancements in medicinal chemistry.