Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is valuable in the creation of compounds targeting central nervous system disorders, including antidepressants and antipsychotics. Additionally, it is utilized in the preparation of ligands for receptor binding studies, aiding in the exploration of neurological pathways and drug discovery. Its stability and reactivity make it a versatile building block in organic synthesis, particularly in the development of complex therapeutic agents.