Used in pharmaceutical research as a key intermediate in the synthesis of biologically active compounds. It is particularly valuable in the development of potential drug candidates targeting neurological disorders and cancer. The compound's structure allows for modifications that enhance binding affinity to specific receptors or enzymes, making it a versatile building block in medicinal chemistry. Additionally, it is employed in the study of enzyme inhibition and receptor modulation, aiding in the discovery of novel therapeutic agents. Its applications extend to the optimization of pharmacokinetic properties in drug development processes.