This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting the central nervous system. Its structural properties make it valuable for creating compounds that interact with specific neurotransmitter receptors, aiding in the study and treatment of neurological disorders. Additionally, it is employed in the preparation of ligands for receptor binding assays, helping to understand the mechanisms of action of potential therapeutic agents. Its role in medicinal chemistry underscores its importance in advancing drug discovery and development processes.