Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its functional groups allow for selective derivatization, making it valuable in medicinal chemistry for constructing bioactive molecules. Commonly employed in research settings to design potent and selective inhibitors or agonists targeting neurological disorders. Also utilized in the preparation of analogs for structure-activity relationship (SAR) studies due to its rigid benzofuran scaffold and reactive bromo site.