Used primarily in pharmaceutical research, this compound serves as a chiral building block in the synthesis of various bioactive molecules. It is particularly valuable in the development of drugs targeting neurological disorders due to its structural similarity to neurotransmitters. Additionally, it is employed in asymmetric synthesis to create enantiomerically pure compounds, which are crucial for producing medications with higher efficacy and fewer side effects. Its application extends to organic chemistry laboratories where it is utilized as a reagent for studying stereoselective reactions.