Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system (CNS) active compounds. Its structure allows for functionalization at multiple sites, making it valuable in medicinal chemistry for building complex drug molecules. It is also employed in the preparation of fluorinated analogs to enhance metabolic stability and bioavailability in drug candidates. Additionally, it serves as a building block in the creation of novel naphthalene-based compounds for research in neuropharmacology and psychotropic drug design.