This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel therapeutic agents. Its structure is often explored for potential activity in central nervous system disorders, including cognitive and neurodegenerative diseases. Researchers investigate its role as a precursor or intermediate in the creation of compounds targeting specific receptors or enzymes in the brain. Additionally, it may be employed in the study of biochemical pathways, aiding in the discovery of new drugs with improved efficacy and safety profiles. Its iodine component also makes it useful in radiolabeling studies for tracking and imaging applications in medical diagnostics.