Used in pharmaceutical research as a key intermediate in the synthesis of serotonin receptor modulators, particularly targeting 5-HT2A and 5-HT6 receptors. It serves as a building block for developing compounds with potential applications in treating neurological disorders such as depression, schizophrenia, and cognitive impairments. Its structure supports the design of potent and selective small-molecule drugs due to its ability to mimic indole-based neurotransmitters. Also employed in the development of kinase inhibitors for oncology research.