Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. Its unique cyclopropane structure allows it to act as a building block for more complex molecules, particularly in the development of drugs targeting neurological disorders. Additionally, it finds application in the creation of agrochemicals, where it contributes to the synthesis of compounds with pesticidal properties. Its carboxylic acid group enables easy functionalization, making it versatile in chemical reactions. Researchers also utilize it in the study of cyclopropane ring-opening reactions, which are crucial in understanding reaction mechanisms and designing new synthetic pathways.