Primarily used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structural features make it valuable in the development of drugs targeting neurological and psychiatric disorders, particularly those involving modulation of neurotransmitter systems. Additionally, it is explored for its potential in creating novel therapeutic agents with anti-inflammatory or analgesic properties. The presence of the fluoro and hydroxyl groups enhances its binding affinity to specific biological targets, making it a useful scaffold in medicinal chemistry. Researchers also investigate its role in optimizing drug delivery systems to improve bioavailability and efficacy.