Used primarily in pharmaceutical research, this compound serves as an intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of central nervous system (CNS) drugs, where its structure can be modified to enhance receptor binding affinity. Additionally, it plays a role in the creation of compounds targeting neurological disorders, such as depression and anxiety. Its application extends to medicinal chemistry, where it aids in the exploration of new therapeutic agents with potential antipsychotic or antidepressant properties.