Used as an intermediate in the synthesis of pharmaceutical compounds, particularly those targeting central nervous system disorders. Its structure supports the development of bioactive molecules due to the presence of reactive functional groups, enabling further chemical modifications. Commonly employed in research settings for creating analogs of indole-based therapeutics. Also utilized in the preparation of selective receptor modulators, including serotonin and melatonin receptor ligands. Its chloromethyl group allows for easy attachment to other molecular frameworks, making it valuable in medicinal chemistry for building complex drug candidates.