Used as an important intermediate in pharmaceutical synthesis, particularly in the development of bioactive molecules and central nervous system agents. Its structure allows for selective modification, making it valuable in creating compounds with receptor affinity, such as dopamine or serotonin modulators. Commonly employed in medicinal chemistry for building complex piperazine- and piperidine-containing drug candidates. Also utilized in the preparation of protease inhibitors and receptor antagonists due to its favorable solubility and stability properties.