This compound is primarily used in research and development within the pharmaceutical industry, particularly in the study of central nervous system (CNS) disorders. It serves as a key intermediate in the synthesis of various pharmacologically active molecules, especially those targeting serotonin receptors. Its structural properties make it valuable for designing drugs aimed at treating conditions like depression, anxiety, and other mood disorders. Additionally, it is utilized in the development of compounds that modulate neurotransmitter activity, contributing to advancements in neuropharmacology. Researchers also explore its potential in creating novel therapeutic agents with improved efficacy and safety profiles.