Widely used in pharmaceutical synthesis, it serves as a key intermediate in the development of various therapeutic agents. Its structure is particularly valuable in the design of compounds targeting central nervous system disorders, such as antidepressants and antipsychotics. Additionally, it is employed in the preparation of small molecule inhibitors for cancer research, where its functional groups facilitate binding to specific biological targets. The compound's versatility also extends to its use in peptide chemistry, where it aids in the protection and deprotection of amine groups during complex molecule assembly. Its role in medicinal chemistry underscores its importance in drug discovery and development processes.