This chemical is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical compounds. Its unique structure makes it valuable for developing molecules with potential therapeutic effects, particularly in targeting neurological disorders and psychiatric conditions. Researchers explore its derivatives for their ability to modulate specific receptors or enzymes in the brain, which could lead to treatments for conditions like depression, anxiety, or neurodegenerative diseases. Additionally, its scaffold is of interest in drug discovery for designing compounds with improved bioavailability and selectivity.