Used primarily as a key intermediate in the synthesis of pharmaceutical compounds, especially in the development of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system agents. Its structural configuration allows for strong binding affinity to specific neurotransmitter receptors, making it valuable in the creation of antidepressants and anxiolytic drugs. Due to the presence of multiple functional sites, it is also employed in medicinal chemistry research for designing novel bioactive molecules and in the preparation of ligands for receptor binding studies.