This compound is primarily utilized in pharmaceutical research and development due to its structural properties, which make it a potential candidate for drug discovery. It is often investigated for its biological activity, particularly in the context of neurological and psychiatric disorders. Researchers explore its interaction with specific receptors in the brain, aiming to develop treatments for conditions such as anxiety, depression, or neurodegenerative diseases. Additionally, its indole moiety makes it a valuable intermediate in the synthesis of more complex molecules, contributing to the development of novel therapeutic agents. Its application is largely confined to laboratory settings, where it is used in preclinical studies to assess efficacy, safety, and mechanisms of action.