Primarily used in the synthesis of pharmaceutical compounds, this chemical serves as a key intermediate in the production of various drugs. It is particularly valuable in the development of central nervous system (CNS) agents, including antidepressants and stimulants. Its structure allows for modifications that enhance the efficacy and specificity of therapeutic molecules. Additionally, it finds application in research settings for studying neurotransmitter activity and receptor interactions, aiding in the discovery of new treatments for neurological disorders. In industrial contexts, it may also be utilized in the preparation of specialty chemicals and fine organic compounds.