WAY-303292 is primarily used in neuroscience research as a potent and selective agonist for the 5-HT6 receptor subtype. Its main application lies in studying cognitive functions, particularly in preclinical models related to learning and memory. Researchers utilize this compound to investigate the role of serotonin signaling in neurodegenerative disorders such as Alzheimer's disease. Due to its ability to modulate cholinergic and glutamateric neurotransmission indirectly, it has been explored for potential pro-cognitive effects. It is also employed in pharmacological studies to validate the therapeutic potential of 5-HT6 receptor activation, especially in the development of nootropic or antipsychotic agents. Its high selectivity makes it a valuable tool for receptor binding assays and functional characterization in cellular and animal models.