Used as a key intermediate in the synthesis of pharmaceuticals and biologically active compounds, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its structure supports functionalization at multiple sites, making it valuable in medicinal chemistry for creating analogs in drug discovery programs. Also employed in the preparation of indole-based derivatives for research in oncology and neurology. Commonly utilized in organic synthesis to build complex heterocyclic systems through cross-coupling reactions and esterification processes.