This chemical is primarily utilized in pharmacological research due to its potential interactions with neurotransmitter systems. It is often studied for its effects on serotonin and dopamine receptors, making it a candidate for investigating treatments for neurological and psychiatric disorders. Additionally, it serves as a building block in the synthesis of more complex compounds aimed at developing new therapeutic agents. Its applications extend to biochemical assays where it is used to understand receptor binding mechanisms and signal transduction pathways.