This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of complex organic molecules. Its structure, featuring a bicyclic core with methoxy groups, makes it valuable for developing pharmaceuticals, particularly those targeting neurological disorders. Researchers often employ it to create analogs for studying receptor interactions, especially in the context of serotonin and dopamine pathways. Additionally, it serves as a building block in the design of novel therapeutic agents, including potential antidepressants or anxiolytics, due to its ability to modulate neurotransmitter systems. Its hydrochloride form enhances solubility, facilitating its use in various experimental and formulation processes.