Primarily used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its bicyclic structure is particularly valuable in the development of drugs targeting the central nervous system, where it can modulate neurotransmitter activity. Additionally, it is employed in the creation of ligands for receptor studies, aiding in the understanding of neurological pathways and potential therapeutic targets. The hydrochloride form enhances its solubility, making it more suitable for experimental applications in aqueous environments. Its role in medicinal chemistry is significant, contributing to the exploration of new treatments for neurological disorders.