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 compounds with potential antidepressant, anxiolytic, and antipsychotic activities. Its structure allows for selective modification, making it valuable in medicinal chemistry for creating novel drug candidates. Also employed in research settings to study neurotransmitter receptor interactions, especially related to serotonin and dopamine pathways.