Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of potential drug candidates targeting neurological disorders, including Parkinson's disease and schizophrenia, due to its structural properties that interact with specific receptors in the brain. Additionally, it is employed in the study of enzyme inhibition and receptor binding assays, aiding in the discovery of new therapeutic agents. Its halogenated aromatic ring system also makes it useful in organic synthesis for creating complex chemical structures with potential medicinal applications.