Used in pharmaceutical research as a key intermediate in the synthesis of selective receptor modulators, particularly in the development of cardiovascular and central nervous system drugs. Its structural features enable high binding affinity to specific protein targets, making it valuable in creating compounds with improved potency and selectivity. Commonly employed in structure-activity relationship (SAR) studies to optimize drug candidates. Also utilized in radiolabeled forms for receptor binding assays due to the presence of iodine, facilitating imaging and pharmacokinetic studies.