This compound is primarily used in research and development within the field of medicinal chemistry. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting serotonin receptors. Its structural features make it valuable for designing compounds that may have potential applications in treating neurological and psychiatric disorders, such as depression, anxiety, and migraines. Additionally, it is explored for its role in studying the biochemical pathways related to serotonin and its analogs, aiding in the discovery of novel therapeutic agents.