Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Particularly valuable in the preparation of indole-based derivatives, which are common structures in medicinal chemistry. Frequently employed in the development of serotonin receptor ligands and other neuroactive agents. Also utilized in research settings for the synthesis of analogs in drug discovery programs targeting central nervous system disorders. Its ester functionality allows for further chemical modifications, making it a versatile building block in synthetic routes.