Used primarily as a key intermediate in the synthesis of selective estrogen receptor modulators (SERMs), particularly in the production of drugs for the treatment of hormone-dependent cancers such as breast cancer. Its structural features allow for effective binding and modulation of estrogen receptors, making it valuable in pharmaceutical development. It is also employed in research settings to explore new therapeutic agents targeting endocrine disorders. Due to its nitrile and hydroxyl functional groups, it serves as a versatile building block in organic synthesis, enabling further chemical modifications to enhance drug efficacy and selectivity.