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 the preparation of indole-based bioactive compounds due to its reactive chloro and ester functional groups. Also utilized in research settings for the construction of complex heterocyclic systems through nucleophilic substitution or cross-coupling reactions. Its structural features make it valuable in medicinal chemistry for designing analogs with potential anti-inflammatory, antiviral, or anticancer activity.