This chemical is primarily utilized as an intermediate in the synthesis of various pharmaceutical compounds. It plays a significant role in the development of drugs targeting neurological disorders, including those used for treating depression and anxiety. Additionally, it is employed in the production of molecules with potential anticancer properties, aiding in the creation of compounds that inhibit specific enzymes or pathways involved in cancer progression. Its structural features make it a valuable building block in medicinal chemistry, particularly for modifying and optimizing drug candidates to enhance their efficacy and selectivity.