Used as a chiral building block in the synthesis of pharmaceuticals, particularly in the production of active pharmaceutical ingredients requiring high enantiomeric purity. Commonly employed in the development of central nervous system agents, including certain antidepressants and antiviral drugs. Its rigid indane structure makes it valuable for creating stereoselective molecules in asymmetric synthesis. Also utilized in the preparation of ligands for catalytic reactions and in the manufacture of specialty chemicals where chirality plays a critical role in biological activity.