Used primarily in pharmaceutical research as an intermediate in the synthesis of central nervous system agents. Shows activity as a dopamine and serotonin modulator, making it relevant in the development of antidepressants and antipsychotic drugs. Also utilized in the study of receptor binding, particularly at sigma and adrenergic receptors. Its derivatives are explored for potential nootropic and neuroprotective effects. Commonly employed in medicinal chemistry for structure-activity relationship studies due to its affinity for multiple neurotransmitter systems.