Used primarily as an intermediate in pharmaceutical research, this compound plays a key role in the development of bioactive molecules targeting central nervous system disorders. Its structure supports binding to serotonin and dopamine receptors, making it valuable in the synthesis of potential antipsychotic and antidepressant agents. It is also employed in structure-activity relationship (SAR) studies to optimize receptor selectivity and improve metabolic stability in new drug candidates. Due to its functional groups, it serves as a building block in the preparation of more complex heterocyclic systems for medicinal chemistry applications.