This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structure is often leveraged to create compounds that interact with neurotransmitter systems, such as dopamine and serotonin receptors, making it valuable in the design of potential therapeutic agents. Additionally, it is used in the preparation of chiral compounds, where its stereochemistry plays a critical role in achieving the desired pharmacological activity. Its application is also seen in the development of ligands for receptor studies, aiding in the understanding of complex biochemical pathways.