Used in the synthesis of pharmaceutical intermediates, particularly in the development of serotonin receptor modulators. Its structure supports the construction of complex indole-based compounds, which are common in neuroactive drugs. The aldehyde and ester functional groups allow for selective derivatization, enabling the formation of hydrazones, Schiff bases, or cyclized products useful in medicinal chemistry. Also employed in research settings to develop novel bioactive molecules with potential antidepressant or antipsychotic activity.