Used as a key 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 both amine and hydroxyl functional groups in a constrained ring system, enhancing metabolic stability and binding affinity. Commonly employed in the preparation of serotonin and dopamine receptor modulators. Also utilized in medicinal chemistry for scaffold development in drug discovery programs targeting neurological disorders.