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 serves as a building block for indole-based derivatives, which are common in medicinal chemistry due to their affinity for various biological targets. Commonly employed in the preparation of antipsychotic, antidepressant, and anti-migraine drugs. Also utilized in research settings for the design of novel heterocyclic compounds and in combinatorial chemistry for drug discovery.