This compound is primarily utilized in the synthesis of various pharmaceutical intermediates, particularly in the development of psychoactive substances. It serves as a key precursor in the production of certain stimulants and antidepressants, where its structure is modified to achieve desired pharmacological effects. Additionally, it is employed in research settings to study the biochemical pathways and mechanisms of action related to neurotransmitter regulation. Its application is crucial in the development of new therapeutic agents targeting the central nervous system.