Used as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of agents targeting central nervous system disorders. Derivatives of this benzofuran compound have potential in inhibiting certain enzymes involved in inflammation and neurological diseases, such as MAO (Monoamine oxidase), associated with depression and Parkinson's disease. Its structure supports binding to specific receptors, making it valuable in medicinal chemistry for designing drugs with improved selectivity and potency. Also employed in research settings to explore new bioactive molecules and structure-activity relationships (SAR) to enhance efficacy and reduce side effects in novel drug classes.