This compound is primarily utilized in the synthesis of various pharmaceutical agents, particularly in the development of central nervous system (CNS) drugs. It serves as a key intermediate in the production of compounds that target neurotransmitter systems, such as serotonin and dopamine, making it valuable for creating medications for psychiatric and neurological disorders. Additionally, it is employed in research settings to study receptor interactions and develop novel therapeutic agents with potential applications in treating depression, anxiety, and other mood-related conditions. Its role in organic synthesis also extends to the creation of specialized chemicals for biochemical studies.