Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of central nervous system (CNS) active compounds. Its chiral structure and functional groups make it valuable for constructing enantiomerically pure molecules, especially in the preparation of neuroactive drugs targeting mood disorders and neurological conditions. The presence of both ester and phenolic hydroxyl groups allows for further chemical modifications, enabling the creation of diverse derivatives for structure-activity relationship (SAR) studies. It is also employed in the production of selective receptor modulators due to its favorable steric and electronic properties.