Used as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system agents and bioactive molecules. Its structure supports the creation of more complex heterocyclic systems found in medicinal chemistry. Commonly employed in research settings for designing analogs with potential antipsychotic, antidepressant, or anti-inflammatory activity. Also utilized in the preparation of enzyme inhibitors and receptor modulators due to its rigid fused-ring framework and functional handle for derivatization.