Used as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system agents. It plays a role in creating serotonin receptor modulators, which are investigated for treating psychiatric and neurological disorders such as depression, anxiety, and schizophrenia. Its structure supports binding affinity and selectivity toward specific receptor subtypes, making it valuable in medicinal chemistry research. Also utilized in the preparation of potential antipsychotic and antidepressant candidates during drug discovery processes.