Used primarily as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) agents and antipsychotic drugs. Its structure supports the formation of biologically active molecules that interact with neurotransmitter receptors. It is also employed in the preparation of functionalized heterocyclic compounds for use in medicinal chemistry research. Due to its fused ring system, it serves as a building block in the design of novel drug candidates with improved metabolic stability and binding affinity.