Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system agents and nootropic compounds. Its structure supports the creation of molecules with cognitive-enhancing and neuroprotective properties. Commonly employed in research settings to design analogs for treating neurological disorders such as Alzheimer's and Parkinson’s disease. Also utilized in the preparation of specialty chemicals for biochemical assays and receptor binding studies due to its amine and hydroxyl functional groups, which facilitate molecular modification and improved bioavailability.