Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system (CNS) agents. Its structure allows for selective modifications, making it valuable in creating analogs for drug discovery. Commonly employed in the preparation of serotonin and dopamine receptor modulators. Also utilized in research settings to develop novel bioactive molecules with potential antipsychotic or antidepressant activity. Its reactivity supports cross-coupling reactions, enabling the introduction of aromatic and heteroaromatic groups during synthetic routes.