WAY-353603 is primarily used in scientific research as a potent and selective antagonist for the 5-HT6 (serotonin 6) receptor. Its main application lies in neuropharmacological studies, particularly in investigating cognitive functions, memory processes, and potential treatments for neurodegenerative disorders such as Alzheimer's disease. Due to its high selectivity, it helps researchers dissect the role of 5-HT6 receptors in behavioral and cognitive models without significant off-target effects. It has also been utilized in preclinical studies exploring the mechanisms of antipsychotic and procognitive drugs, making it a valuable tool compound in central nervous system drug development.