This chemical is primarily used in organic synthesis as an intermediate for the preparation of more complex molecules, particularly in pharmaceutical research. It serves as a building block for developing compounds with potential therapeutic properties, such as enzyme inhibitors or receptor modulators. The presence of both the carbamate and hydroxyl groups makes it versatile for chemical modifications, enabling the creation of diverse derivatives. Additionally, it may be employed in the study of cyclobutane ring systems, which are of interest due to their unique structural and reactivity properties in drug design. Its applications are largely confined to laboratory settings, focusing on the development of new drugs and bioactive compounds.