This compound is primarily utilized in pharmacological research due to its structural similarity to certain neurotransmitters. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting the central nervous system. Researchers explore its potential in developing treatments for neurological disorders, such as Parkinson's disease and depression, by modulating dopamine and serotonin pathways. Additionally, it is investigated for its role in creating novel analgesics and anti-addiction therapies. Its application is largely confined to laboratory settings, where it aids in understanding biochemical mechanisms and designing new therapeutic agents.