Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) agents. It serves as a building block for serotonin and dopamine receptor modulators, often found in antidepressants, antipsychotics, and anxiolytic drugs. Its structure supports binding affinity to various neuroreceptors, making it valuable in medicinal chemistry for designing bioactive molecules. Also utilized in research settings to explore new therapeutic compounds targeting neurological and psychiatric disorders.