Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of antidepressant and antipsychotic drugs. It serves as a building block in organic synthesis due to its strained cyclopropane ring and reactive aldehyde group, enabling the formation of complex molecular structures. Commonly employed in the preparation of phenethylamine derivatives and other bioactive molecules. Also utilized in the development of fragrances and flavoring agents owing to its aromatic characteristics.