This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of complex molecules, particularly in the synthesis of biologically active compounds. Its structure is valuable in creating derivatives that may exhibit therapeutic properties, such as potential central nervous system (CNS) activity or cardiovascular effects. Researchers often explore its use in designing new drug candidates, especially those targeting neurological disorders or other medical conditions. Additionally, its amino and ester functional groups make it versatile for further chemical modifications in medicinal chemistry.