This compound is primarily utilized in the field of medicinal chemistry and pharmacology due to its potential biological activities. It serves as a key intermediate in the synthesis of various pharmacologically active molecules, particularly those targeting neurological disorders. Researchers explore its derivatives for their potential as inhibitors of specific enzymes or receptors, which could lead to the development of new therapeutic agents. Additionally, it is studied for its role in modulating neurotransmitter systems, making it relevant in the treatment of conditions like depression, anxiety, and neurodegenerative diseases. Its structural framework also makes it a candidate for drug discovery programs focused on identifying novel compounds with anti-cancer or anti-inflammatory properties.