This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmacologically active molecules. It plays a significant role in the development of compounds targeting neurological disorders, particularly those involving monoamine oxidase (MAO) inhibition. Its structure is often leveraged to design drugs that modulate neurotransmitter levels, making it valuable in research for treating conditions like depression, Parkinson's disease, and anxiety. Additionally, its reactive alkyne group allows for further chemical modifications, enabling the creation of diverse derivatives for biological screening and drug discovery.