Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of tricyclic antidepressants and antipsychotic drugs. Its structure serves as a backbone for building complex bioactive molecules due to the presence of reactive sites that allow for further functionalization. Commonly employed in research settings for developing new psychoactive agents and in the preparation of photoinitiators for polymer chemistry. Also finds use in organic synthesis for constructing heterocyclic compounds with potential biological activity.