This compound is primarily utilized in the field of medicinal chemistry due to its potential pharmacological properties. 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 anti-inflammatory, analgesic, or antidepressant effects. Additionally, it has been investigated for its role in modulating specific receptors in the central nervous system, making it a candidate for drug development in mental health treatments. Researchers also study its derivatives for their potential in treating chronic pain and neurodegenerative diseases.