Used as a key intermediate in organic synthesis, particularly in the preparation of functionalized bicyclic compounds for pharmaceutical research. Its strained cage-like structure and reactive iodine substituent make it suitable for cross-coupling reactions, such as Suzuki or Heck reactions, enabling the construction of complex molecular architectures. The ester group allows for further transformations, including hydrolysis, reduction, or amidation, facilitating its incorporation into bioactive molecules. It is also employed in the development of novel ligands and catalysts due to its rigid three-dimensional framework, which can influence stereoselectivity in asymmetric synthesis.