Used in pharmaceutical research as an intermediate for synthesizing serotonin-related compounds and neuroactive agents. Shows potential in studies involving mood regulation and sleep disorders due to its structural similarity to tryptophan, a precursor to neurotransmitters. Also employed in the development of peptide-based drugs where esterification improves cell membrane permeability. Investigated for use in prodrug formulations to enhance bioavailability of tryptophan derivatives.