Used primarily as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system (CNS) agents. Its structure supports the creation of bioactive molecules with potential antipsychotic, antidepressant, or analgesic properties. The presence of both amine and hydroxyl functional groups allows for versatile chemical modifications, making it valuable in medicinal chemistry for drug design and optimization. It is also employed in the preparation of receptor ligands targeting neurological disorders.