This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various pharmaceutical agents, particularly those targeting neurological and psychiatric disorders. Its unique spirocyclic structure makes it a valuable scaffold for designing molecules with potential therapeutic effects. Researchers often explore its derivatives for their activity as receptor modulators or enzyme inhibitors, which can be relevant in treating conditions like depression, anxiety, or neurodegenerative diseases. Additionally, its structural complexity allows for the development of novel compounds with improved bioavailability and selectivity, making it a significant focus in the search for new drugs.