This compound is primarily used in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological disorders. Its structure is advantageous in the development of drugs that interact with neurotransmitter systems, such as nicotinic acetylcholine receptors, which are implicated in conditions like Alzheimer's disease, Parkinson's disease, and schizophrenia. Additionally, it is utilized in the preparation of ligands for receptor binding studies, aiding in the discovery of novel therapeutic agents. Its bicyclic framework and functional groups make it a versatile building block for constructing complex molecules with potential pharmacological activity.