This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting neurological disorders. Its structural framework is often explored for developing compounds with potential antipsychotic, antidepressant, or anxiolytic properties. Researchers also investigate its derivatives for their ability to modulate specific receptors or enzymes in the central nervous system, making it a valuable scaffold in drug discovery efforts. Additionally, its application extends to studying pharmacokinetics and pharmacodynamics of potential therapeutic agents.