Used primarily as a research chemical in organic synthesis and medicinal chemistry, this compound serves as a precursor or intermediate in the development of bioactive molecules. Its structure supports the exploration of neurotransmitter analogs, particularly those related to phenethylamine derivatives, which are of interest in neuroscience and psychopharmacology. It is also employed in the study of receptor binding and structure-activity relationships, especially in compounds targeting monoamine systems. Due to the presence of protected hydroxyl groups, it is useful in stepwise synthesis where selective deprotection and functionalization are required. Mainly utilized in laboratory settings, it has no approved pharmaceutical or industrial applications.