Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) agents. Its structure supports the creation of bioactive molecules due to the presence of functional groups amenable to further modification. Commonly employed in medicinal chemistry for designing receptor ligands, especially targeting neurological disorders. The hydroxymethyl group allows for conjugation or derivatization, enhancing drug solubility or enabling prodrug strategies. Also utilized in the preparation of peptide-like structures and small molecule modulators in research settings.