Used in pharmaceutical research as a key intermediate in the synthesis of serotonin receptor modulators, particularly targeting 5-HT6 and 5-HT7 receptors. It serves as a scaffold in developing compounds for neurological disorders such as Alzheimer's disease, schizophrenia, and depression. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for optimizing drug candidates. Also investigated for use in kinase inhibitor development due to its similarity to indole-based inhibitors.