Used as a key intermediate in the synthesis of antipsychotic medications, particularly in the production of second-generation neuroleptics. Its structure supports binding to dopamine and serotonin receptors, making it valuable in developing drugs for schizophrenia and bipolar disorder. Also employed in research settings to design novel pharmaceuticals targeting central nervous system disorders. Shows utility in medicinal chemistry for modifying pharmacokinetic properties such as solubility and metabolic stability.