Used as a key intermediate in the synthesis of pharmaceutical agents, particularly those targeting central nervous system disorders. Its structure supports the development of compounds with activity as serotonin and dopamine modulators, making it valuable in creating antidepressants and antipsychotics. The presence of both hydroxyl and ketone functional groups allows for further chemical modifications, enabling optimization of pharmacokinetic properties such as solubility, metabolic stability, and blood-brain barrier penetration. It is also employed in research settings to develop novel bioactive molecules with potential therapeutic effects in neurodegenerative diseases and mood disorders.