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 serotonin and dopamine receptor modulators. Commonly employed in the preparation of antidepressants and antipsychotic drugs due to its ability to cross the blood-brain barrier and interact with neural targets. Also utilized in medicinal chemistry for structure-activity relationship (SAR) studies to optimize drug potency and selectivity.