Used primarily as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) agents. It plays a role in the production of certain anxiolytic and antipsychotic compounds due to its structural similarity to bioactive heterocycles. Its derivatives are explored for their activity as receptor modulators, especially targeting GABA and serotonin receptors. Additionally, it serves as a building block in medicinal chemistry for designing novel drug candidates with improved metabolic stability and binding affinity.