Used as a key intermediate in the synthesis of various pharmaceutical compounds, particularly those targeting central nervous system disorders. Its structure supports the development of serotonin receptor modulators, making it valuable in research for antidepressants and anti-anxiety drugs. Also employed in the preparation of melatonin analogs due to the presence of methoxy-indole framework, which is essential for melatonin-like biological activity. Commonly utilized in medicinal chemistry for building complex heterocyclic systems in drug discovery programs.