Primarily utilized in research settings, this compound is often employed as a reference standard or analytical reagent in pharmacological studies. It is particularly relevant in the investigation of serotonin and dopamine receptor interactions, aiding in the understanding of neurotransmitter systems and their role in neurological disorders. Additionally, it serves as a key intermediate in the synthesis of various psychoactive compounds, contributing to the development of potential therapeutic agents targeting mental health conditions. Its application is strictly confined to controlled laboratory environments due to its pharmacological activity.