This compound is primarily utilized in the field of medicinal chemistry and pharmacology. It serves as a key intermediate in the synthesis of various pharmaceutical agents, particularly those targeting the central nervous system. Its structure is often explored for the development of potential antidepressants, anxiolytics, and other psychotropic medications due to its ability to interact with neurotransmitter systems. Additionally, it has been studied for its role in modulating receptor activity, which can lead to the discovery of novel therapeutic compounds for treating mental health disorders. Researchers also investigate its derivatives for their potential in drug discovery programs aimed at addressing neurological and psychiatric conditions.