Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system agents. Its structure supports the creation of bioactive molecules due to the presence of a piperazine ring and an iodinated aromatic group, which facilitate binding to various receptors. Commonly employed in research settings for the preparation of radiolabeled derivatives used in imaging studies and receptor binding assays. Also utilized in the manufacture of selective serotonin and dopamine receptor ligands for potential use in treating neurological and psychiatric disorders.