Used primarily as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) active agents. Its structure supports the creation of complex molecules with potential analgesic, anti-inflammatory, or neuromodulatory effects. The compound's rigid indole scaffold and ester functionality make it valuable in medicinal chemistry for optimizing drug potency, selectivity, and metabolic stability. It is also employed in research settings for exploring new synthetic routes and structure-activity relationships in heterocyclic compounds.