Used in the synthesis of melatonin analogs, which are important in regulating sleep patterns and circadian rhythms. It serves as a precursor in the development of pharmaceuticals aimed at treating sleep disorders and jet lag. Additionally, it is utilized in research studies exploring the role of serotonin and melatonin pathways in the brain. Its derivatives are also investigated for potential antioxidant and neuroprotective properties, making it relevant in studies related to aging and neurodegenerative diseases.