Used primarily as a research chemical in pharmaceutical development, this compound serves as a key intermediate in the synthesis of serotonin receptor ligands. It is especially valuable in the study of central nervous system disorders due to its structural affinity for 5-HT1A receptors. Researchers utilize it in the development of potential treatments for anxiety, depression, and neurodegenerative diseases. Its derivatives are also explored in radiolabeling studies for brain imaging techniques, aiding in the visualization of receptor distribution in neural tissues. Due to its amine functionality and aromatic substitution pattern, it participates in various coupling and alkylation reactions, making it a versatile building block in medicinal chemistry.