Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of nicotinic receptor modulators and central nervous system agents. Its structure allows for selective derivatization, making it valuable in medicinal chemistry for creating analogs with enhanced biological activity. Commonly employed in cross-coupling reactions due to the presence of the iodine atom, enabling the formation of carbon-carbon bonds in drug discovery pathways. Also utilized in the preparation of kinase inhibitors and cognitive enhancers.