This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. Its structure, featuring an azetidine ring and an ethylphenoxy group, makes it a valuable intermediate in the design of molecules targeting central nervous system disorders. Researchers explore its potential in modulating specific receptors or enzymes involved in neurological pathways, aiming to develop treatments for conditions like anxiety, depression, or cognitive impairments. Additionally, its hydrochloride form enhances solubility, making it more suitable for in vitro and in vivo studies during preclinical drug discovery phases.