Used primarily in the synthesis of pharmaceuticals, particularly in the development of drugs targeting the central nervous system. It serves as a key intermediate in the production of compounds with potential antidepressant and antipsychotic properties. Its structure allows for modifications that enhance binding affinity to specific receptors, making it valuable in medicinal chemistry research. Additionally, it is employed in the study of serotonin and dopamine receptor interactions, aiding in the understanding of neurological disorders.