Used in the synthesis of pharmaceutical intermediates, particularly in the development of central nervous system agents. It serves as a key building block in the production of certain antidepressants and anxiolytic compounds due to its structural similarity to active metabolites of some psychoactive drugs. Its derivatives are explored for their potential in treating mood disorders, leveraging the compound’s ability to interact with neurotransmitter systems. Commonly employed in research settings for structure-activity relationship studies in medicinal chemistry.