Used in pharmaceutical research as a key intermediate in the synthesis of bioactive compounds targeting central nervous system disorders. Shows potential in the development of agents for cognitive enhancement and neuroprotection due to its structural affinity for neurotransmitter receptors. Also employed in the design of selective enzyme inhibitors, particularly in studies related to neurodegenerative diseases. Its polar hydroxyl group and aromatic features make it suitable for modifying solubility and binding properties in drug candidates.