Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and bioactive molecules. It is particularly valuable in the synthesis of substituted phenethylamines, which are important in the development of central nervous system drugs. Additionally, it finds application in the preparation of ligands for receptor binding studies, aiding in the exploration of neurotransmitter systems. Its bromine substituent allows for further functionalization, making it a versatile building block in medicinal chemistry research.