This compound is primarily utilized in pharmaceutical research and development due to its unique structural properties. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and cardiovascular diseases. Its spirocyclic structure is advantageous in drug design, as it can enhance binding affinity and selectivity to specific biological targets. Researchers also explore its potential in creating novel therapeutic agents for conditions like hypertension and neurodegenerative disorders. Additionally, its carboxylic acid group allows for further chemical modifications, making it a versatile building block in medicinal chemistry.