Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of central nervous system (CNS) active compounds. Its structural features make it valuable in creating analogs for neurotransmitter modulators, including those targeting serotonin and dopamine receptors. Commonly employed in research settings for designing potential antidepressants, anxiolytics, and anti-neurodegenerative drugs. Also utilized in the preparation of chiral building blocks for asymmetric synthesis in medicinal chemistry.