Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and antipsychotic agents. Its structure supports binding to biological targets involved in signal transduction pathways, making it valuable in drug discovery for cancer and central nervous system disorders. Commonly employed in medicinal chemistry for modifying pharmacokinetic properties such as solubility and metabolic stability. Also utilized in the preparation of receptor agonists and antagonists due to its ability to interact with neurotransmitter systems.