This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of biologically active molecules. It serves as a key intermediate in the creation of compounds targeting neurological and psychiatric disorders, such as anxiety, depression, and schizophrenia. Its structure allows for the introduction of specific functional groups that enhance binding affinity to receptors like serotonin and dopamine receptors. Additionally, it is employed in the development of potential therapeutic agents due to its ability to modulate neurotransmitter systems. Its tert-butyl ester group provides stability during synthetic processes, making it a valuable building block in medicinal chemistry.