Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Its iodine and hydroxyl functional groups allow for selective cross-coupling reactions and derivatization, making it valuable in the development of medicinal agents, particularly in the design of serotonin receptor ligands and imaging agents. The methoxy group enhances electron density, influencing reactivity and binding affinity in target molecules. Commonly employed in radiolabeling and probe development for neuroscience research.