Used primarily in pharmaceutical research as an intermediate in the synthesis of bioactive compounds. It serves as a building block for developing serotonin receptor modulators, particularly targeting 5-HT1A and 5-HT2A receptors, which are relevant in treating neurological and psychiatric disorders such as anxiety, depression, and schizophrenia. Its structural features make it valuable in structure-activity relationship (SAR) studies to optimize potency and selectivity of new drug candidates. Also employed in the development of radiolabeled derivatives for receptor binding assays and imaging studies. Due to its functional versatility, it is explored in medicinal chemistry for designing novel therapeutics with improved pharmacokinetic and pharmacodynamic profiles.