This compound is primarily utilized in pharmaceutical research and development, particularly in the study of central nervous system (CNS) disorders. It acts as a key intermediate in the synthesis of various psychoactive substances, aiding in the investigation of serotonin and dopamine receptor activity. Researchers employ it to explore potential treatments for conditions like depression, anxiety, and schizophrenia. Additionally, it is used in biochemical assays to understand receptor binding mechanisms and to develop novel therapeutic agents targeting neurotransmitter systems. Its role in medicinal chemistry highlights its importance in advancing drug discovery and CNS-related therapies.