Used primarily as a chemical intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system agents. It serves as a building block in the production of certain analgesics and neuromodulatory drugs due to its structural affinity for receptor targets in the brain. Its derivative structures are explored in medicinal chemistry for potential applications in treating pain, depression, and neurological disorders. The compound’s functional groups allow for easy modification, making it valuable in creating libraries of bioactive molecules during drug discovery.