Used in pharmaceutical research as a key intermediate in the synthesis of serotonin receptor modulators, particularly targeting 5-HT2A and 5-HT6 receptors. It serves as a building block for developing potential treatments for neurological disorders such as schizophrenia, depression, and cognitive impairments. Its bromo functional group allows for further modification via cross-coupling reactions, making it valuable in medicinal chemistry for creating diverse compound libraries. Also employed in the development of fluorescent probes due to its rigid heterocyclic structure, useful in biochemical imaging and receptor binding studies.