This compound is widely used in pharmaceutical research as a building block for the synthesis of various bioactive molecules. It serves as a key intermediate in the development of drugs targeting neurological disorders, particularly those involving neurotransmitter modulation. Its structure is valuable in creating ligands for receptor studies, aiding in the understanding of receptor-ligand interactions. Additionally, it is employed in the preparation of compounds with potential anti-inflammatory and antimicrobial properties. Its versatility in organic synthesis makes it a crucial component in the development of novel therapeutic agents.