Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system (CNS) agents. Its alkyne and hydroxyl functional groups allow for versatile chemical modifications, making it valuable in creating analogs for drug discovery. Commonly employed in ring-enlargement reactions and click chemistry applications to build complex molecular structures. Also utilized in the preparation of prostaglandin derivatives and other bioactive molecules requiring a cyclopentane scaffold with specific side-chain functionality.