Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of central nervous system (CNS) drugs. Its structure allows for easy functionalization, making it valuable in creating compounds that target neurological receptors. Commonly employed in the preparation of serotonin and dopamine modulators due to its ability to cross the blood-brain barrier. Also utilized in the production of fluorinated analogs for improved metabolic stability and bioavailability in drug candidates.