Primarily utilized in pharmacological research, this compound serves as a key intermediate in the synthesis of various psychoactive substances. It is particularly significant in the development of compounds that interact with serotonin receptors, making it valuable for studying neurological pathways and potential treatments for psychiatric disorders. Additionally, it is employed in the creation of ligands for receptor binding assays, aiding in the exploration of neurotransmitter systems. Its application extends to the investigation of drug mechanisms and the development of novel therapeutic agents targeting mental health conditions.