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 valuable for developing compounds that interact with serotonin receptors, which are crucial in treating conditions like depression, anxiety, and migraines. Additionally, it is employed in the design of small molecule inhibitors for enzymes involved in neurodegenerative diseases. Researchers also explore its potential in creating novel therapeutic agents due to its indole core, which is a common motif in many drugs. Its hydrochloride form enhances solubility, making it more suitable for experimental and formulation purposes.