Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of central nervous system (CNS) active compounds. Its structure allows for selective modification, making it valuable in creating analogs for drug discovery. Commonly employed in the preparation of nootropic and neuroprotective agents due to its ability to influence neurotransmitter pathways. Also utilized in research settings to design enzyme inhibitors and receptor modulators, especially targeting cognitive disorders and neurodegenerative diseases.