LY 266097 hydrochloride is primarily used in scientific research as a potent and selective antagonist for the 5-HT6 receptor, a subtype of serotonin receptor. Its main application lies in neuroscience studies focusing on cognitive function, memory, and neurodegenerative disorders such as Alzheimer's disease. Researchers use this compound to investigate the role of 5-HT6 receptors in modulating neurotransmitter systems involved in learning and memory processes. Due to its high selectivity, it helps in understanding receptor-specific effects without significant off-target interactions. It is also utilized in preclinical studies to evaluate potential therapeutic strategies for psychiatric conditions, including schizophrenia and depression, where serotonin signaling is dysregulated. Its application remains restricted to laboratory and experimental settings, with no current use in clinical medicine.