Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Its structure supports the development of serotonin receptor ligands, making it valuable in neuroscience research. The iodo group allows for cross-coupling reactions, enabling the formation of more complex molecules through palladium-catalyzed transformations. Commonly employed in the preparation of tryptamine and indole derivatives with potential antidepressant or antipsychotic activity. Also utilized in radiolabeling studies due to the presence of iodine, facilitating imaging and metabolic tracking in preclinical trials.