Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of indole-based bioactive compounds. Its structure supports the creation of derivatives with potential neurological and anti-inflammatory activity. Commonly employed in medicinal chemistry research for designing serotonin receptor modulators and other central nervous system-targeting agents. Also utilized in the preparation of analogs for structure-activity relationship (SAR) studies due to its fused ring system and functional handle for further modification.