Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its structure supports the creation of bioactive molecules with potential applications in treating neurological disorders such as depression, anxiety, and migraine. The ester group allows for further chemical modifications, making it valuable in medicinal chemistry for building complex indole-based compounds. Also employed in research settings to design and optimize new drug candidates due to its favorable reactivity and stability.