Used in pharmaceutical research as an intermediate for synthesizing biologically active compounds, particularly those targeting neurological and psychiatric disorders. Its structure supports development of agents that modulate serotonin receptors due to the indole moiety, commonly found in neuroactive molecules. Also explored in the design of anti-inflammatory and anticancer agents, where the ester and aromatic components allow for chemical modifications to enhance potency and selectivity. Employed in medicinal chemistry for structure-activity relationship (SAR) studies to optimize drug candidates.