Used in pharmaceutical research as a key intermediate in the synthesis of biologically active compounds, particularly in the development of central nervous system agents. Shows potential in the design of novel receptor modulators due to its structural affinity for neurotransmitter receptors, such as serotonin (5-HT) receptors involved in depression, anxiety, and other psychiatric disorders. Also employed in agrochemical studies for the creation of new pesticidal agents owing to its heterocyclic stability and functional versatility.