Used primarily in research settings, this compound is often explored for its potential pharmacological properties, particularly in the study of serotonin and dopamine receptor interactions. It serves as a key intermediate in the synthesis of various psychoactive substances, aiding in the development of compounds targeting neurological disorders. Additionally, it is utilized in biochemical assays to investigate receptor binding mechanisms, contributing to advancements in neuroscience and drug discovery. Its structural features make it valuable for designing molecules with specific receptor affinity and selectivity.