Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of central nervous system (CNS) drugs. Its structure supports binding to neuronal receptors, making it valuable in creating compounds that modulate neurotransmitter activity. Commonly employed in the preparation of serotonin and dopamine receptor modulators for treating psychiatric and neurological disorders. Also utilized in research settings to design novel drug candidates targeting pain, depression, and addiction due to its favorable bioavailability and receptor selectivity.