Used primarily in pharmaceutical research as a key intermediate in the synthesis of bioactive compounds, particularly in the development of serotonin receptor modulators. Its structural features make it valuable in designing drugs targeting central nervous system disorders, including depression, anxiety, and schizophrenia. The compound's ability to interact with neurotransmitter receptors allows for fine-tuning of pharmacological activity in novel therapeutic agents. It is also employed in medicinal chemistry for structure-activity relationship (SAR) studies to optimize drug candidates.