Used primarily as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of central nervous system (CNS) active compounds. Its structural features make it valuable in the preparation of selective receptor modulators, including those targeting serotonin and dopamine pathways. Commonly employed in research settings for the creation of novel psychotropic drugs and in medicinal chemistry for optimizing drug candidates with improved bioavailability and binding affinity. Also utilized in the production of radiolabeled derivatives for receptor binding studies and imaging applications.