This compound is primarily utilized in pharmacological research due to its potential as a beta-adrenergic receptor antagonist. It is studied for its ability to block beta receptors, which can influence heart rate and blood pressure, making it relevant in cardiovascular disease research. Additionally, its structural properties allow it to interact with specific neurotransmitter systems, suggesting potential applications in neurological studies, particularly in conditions like anxiety or depression. Its methoxy and phenethyl groups contribute to its binding affinity, making it a candidate for further drug development and therapeutic agent synthesis.