Used as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system agents. It serves as a building block for psychoactive drugs and is involved in the production of certain antidepressants and antipsychotics. Also utilized in research settings to study serotonin and dopamine receptor activity due to its structural affinity for these targets. Its derivatives are explored for potential anxiolytic and cognitive-enhancing effects. Common in medicinal chemistry for structure-activity relationship studies.