Used primarily in pharmaceutical research as an intermediate for synthesizing biologically active compounds. It serves as a structural scaffold in the development of central nervous system agents, particularly those targeting neurological and psychiatric disorders. Its derivatives show potential in modulating receptor activity, including serotonin and dopamine pathways, making it valuable in the design of antidepressants, anxiolytics, and antipsychotic drugs. Also employed in medicinal chemistry for structure-activity relationship studies due to its rigid, polycyclic framework.