Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of centrally acting agents due to its rigid bicyclic structure that can mimic bioactive conformations. Its hydroxyl and amine functionality allows for easy derivatization, making it valuable in medicinal chemistry for constructing drug candidates targeting neurological disorders. Commonly employed in the preparation of ligands for neurotransmitter receptors, especially in exploratory research for cognitive enhancers and antidepressants. Also utilized in the design of enzyme inhibitors where structural constraint improves selectivity and metabolic stability.