Primarily utilized in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of central nervous system (CNS) drugs, including potential treatments for neurological disorders such as Parkinson's disease and depression. Additionally, it is explored in the creation of compounds with analgesic and anti-inflammatory properties, making it a versatile building block in medicinal chemistry. Researchers also investigate its role in designing ligands for receptor studies, aiding in the understanding of complex biochemical pathways.