Used in pharmaceutical research as an intermediate in the synthesis of serotonin receptor modulators and other neuroactive compounds. Commonly found in the development of antidepressants and anti-anxiety medications due to its structural similarity to naturally occurring indoleamines. Also employed in the study of melatonin pathways, given the presence of a methoxy group at the 5-position, which is characteristic of melatonin-like molecules. Serves as a building block in the preparation of more complex indoline derivatives for biological evaluation in central nervous system disorders.