Used in pharmaceutical research as a key intermediate in the synthesis of biologically active compounds. It plays a significant role in the development of potential drugs targeting neurological disorders, including Alzheimer's disease and depression, due to its structural similarity to indole alkaloids. Additionally, it is explored in the creation of novel anticancer agents, as its framework can be modified to interact with specific cellular pathways. Its versatility also extends to organic synthesis, where it serves as a building block for complex molecules in medicinal chemistry.