Used in pharmaceutical research as a key intermediate in the synthesis of serotonin receptor modulators. Shows potential in the development of neuroprotective agents and compounds targeting neurological disorders. Also explored for its role in anti-inflammatory drug design due to structural similarity to bioactive indole derivatives. Employed in the preparation of fluorescent probes for studying protein interactions and cellular imaging. Serves as a building block in the synthesis of more complex heterocyclic systems for drug discovery.