This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structure is often incorporated into the development of compounds that interact with serotonin and dopamine receptors, making it valuable for creating potential treatments for conditions like depression, anxiety, and Parkinson's disease. Additionally, it is explored in the design of novel drug candidates due to its ability to modulate specific neurotransmitter systems, contributing to advancements in CNS-related therapies.