Used in the synthesis of pharmaceutical intermediates, particularly in the development of central nervous system agents. It serves as a building block for compounds with potential antidepressant and neuroprotective activity. Also applied in research for novel adrenergic receptor ligands due to its structural similarity to neurotransmitters. Additionally, it has been explored in the design of antioxidants and anti-aging formulations owing to its phenolic moiety and ability to scavenge free radicals.