Used in pharmaceutical research as a key intermediate in the synthesis of bioactive molecules targeting central nervous system disorders. Shows potential in the development of novel antipsychotic and antidepressant agents due to its structural affinity for dopamine and serotonin receptors. Also investigated for anti-inflammatory and analgesic properties in preclinical studies. Its carboxylic acid functionality allows for easy derivatization, making it valuable in medicinal chemistry for creating compound libraries aimed at CNS drug discovery.