Used in the synthesis of bioactive compounds, particularly in pharmaceutical research targeting neurological pathways. It serves as a key intermediate in creating analogs of serotonin and melatonin due to its structural similarity to these neurotransmitters. Commonly employed in the development of drugs affecting sleep, mood, and circadian rhythm regulation. Also utilized in studies exploring receptor binding affinity for 5-HT (serotonin) receptors. Its hydroxyl and indole functionalities allow for easy modification in medicinal chemistry campaigns.