Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. Its strained cyclopropyl ring and reactive alkyne and alcohol functional groups allow for diverse chemical transformations. Commonly employed in coupling reactions and cyclization processes to build complex molecular structures. Also utilized in the development of bioactive compounds, including antiviral and anticancer agents, due to its ability to mimic certain biological motifs. Its versatility makes it valuable in medicinal chemistry research and process development.