Used primarily in the pharmaceutical industry, this compound serves as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting neurological disorders, particularly those involving the central nervous system. Its structure is beneficial in creating compounds that modulate neurotransmitter activity, making it valuable in the production of antipsychotic and antidepressant medications. Additionally, it is utilized in research to explore new therapeutic agents for conditions like schizophrenia, anxiety, and depression. Its application extends to the study of receptor binding and drug delivery mechanisms, contributing to advancements in medicinal chemistry.