Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system agents. Its structure allows for functionalization in multi-step reactions, making it valuable in creating bioactive molecules. Commonly employed in medicinal chemistry for constructing tricyclic or fused ring systems found in neuroactive drugs. Also utilized in the preparation of receptor ligands targeting neurological disorders.