This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. It serves as a building block for the development of compounds targeting neurological disorders, particularly those involving the modulation of neurotransmitter systems. Its structural features make it valuable in the design of ligands for receptors such as sigma receptors, which are implicated in conditions like schizophrenia, depression, and pain management. Additionally, it finds application in the creation of novel drug candidates for treating neurodegenerative diseases, where precise receptor interaction is crucial. Its role in facilitating the development of these therapeutic agents highlights its importance in advancing modern drug discovery.