Used in the synthesis of pharmaceutical compounds, particularly those targeting neurological disorders and depression, due to its structural similarity to neurotransmitters. It serves as a key intermediate in the production of certain antidepressants and anxiolytics. Additionally, it is utilized in research for developing novel drugs that modulate serotonin and dopamine pathways. Its hydroxyl and amino functional groups make it a versatile building block in organic synthesis, enabling the creation of complex molecules with potential therapeutic applications.