Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of selective estrogen receptor modulators (SERMs). It serves as a building block for compounds targeting hormone-related disorders, including certain types of breast cancer and osteoporosis. Its structure allows for functionalization at both the phenolic and piperidine nitrogen, enabling diverse derivatization for structure-activity relationship studies. Commonly employed in medicinal chemistry research for optimizing drug candidates with improved bioavailability and receptor selectivity.