Used primarily as a pharmaceutical intermediate in the synthesis of active drug substances, particularly in the development of central nervous system (CNS) agents. It serves as a key building block in the preparation of selective receptor modulators, including dopamine and serotonin receptor ligands. Its structural features allow for easy functionalization, making it valuable in medicinal chemistry for optimizing drug potency, selectivity, and pharmacokinetic properties during lead compound development. Commonly employed in research settings for generating novel analogs in neuropharmacology and psychotropic drug discovery.