Used in pharmaceutical research as a building block for the synthesis of various bioactive compounds. It serves as a key intermediate in the development of drugs targeting neurological disorders, such as anxiety and depression, due to its azetidine ring structure. Additionally, it is employed in the creation of small molecule inhibitors for enzymes involved in inflammatory and autoimmune diseases. Its benzyloxy group enhances solubility and stability, making it suitable for use in medicinal chemistry and drug discovery processes.