Used primarily as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of antipsychotic and antidepressant drugs. Its structure allows for easy modification in drug design, making it valuable in creating derivatives with targeted neurological effects. It is also employed in research settings to study receptor binding, especially related to serotonin and dopamine receptors. Additionally, it serves as a building block in the preparation of bioactive molecules and functionalized piperazine derivatives for medicinal chemistry applications.