Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor modulators and other central nervous system agents. Commonly employed in research settings to construct indole-based scaffolds, which are prevalent in bioactive molecules and drug candidates. Also utilized in the preparation of analogs for structure-activity relationship (SAR) studies due to the ease of functionalization at the indole core. Its ester group allows for straightforward conversion to amides or acids, enabling further derivatization in medicinal chemistry workflows.