Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of psychoactive drugs and antipsychotics. Its structure supports the creation of compounds that interact with central nervous system receptors, especially serotonin and dopamine receptors. Commonly employed in research settings to produce active pharmaceutical ingredients (APIs) for treating psychiatric disorders such as schizophrenia and anxiety. Also utilized in the preparation of reference standards and metabolites for analytical testing in drug development.