Used primarily as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of centrally acting agents. It plays a role in the preparation of certain neuromodulatory drugs due to its structural similarity to neurotransmitter precursors. Its functional groups allow for selective derivatization, making it valuable in medicinal chemistry for creating analogs with potential antidepressant or cognitive-enhancing effects. Also utilized in research settings to study amine-containing biochemical pathways.