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 structural features make it a valuable building block for developing compounds that interact with serotonin receptors, which are crucial in treating conditions like depression, anxiety, and migraines. Additionally, it is explored in the development of potential therapeutic agents for neurodegenerative diseases due to its ability to modulate specific biochemical pathways in the brain. Its applications also extend to preclinical studies, where it aids in understanding the pharmacological properties of new drug candidates.