This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting neurological disorders, particularly those involving serotonin receptors. Its structural properties make it suitable for creating compounds with potential antidepressant and anxiolytic effects. Additionally, it is employed in research settings for studying receptor binding mechanisms and developing novel therapeutic agents. Its specific stereochemistry and functional groups contribute to its effectiveness in producing enantiomerically pure substances, which are essential for ensuring the desired pharmacological activity and reducing side effects in drug formulations.