Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system agents. It serves as a building block for serotonin receptor modulators, especially 5-HT1A receptor ligands, which are relevant in treating anxiety, depression, and neurodegenerative disorders. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for optimizing drug candidates. Also employed in the preparation of bioactive molecules and heterocyclic compounds with potential antimicrobial and anti-inflammatory properties. Widely utilized in research settings for structure-activity relationship (SAR) studies in drug discovery.