Used in organic synthesis as an intermediate for pharmaceuticals, particularly in the development of central nervous system agents. Shows activity as a serotonin receptor modulator, making it relevant in research on antidepressants and anxiolytics. Also utilized in the preparation of novel piperazine derivatives for structure-activity relationship studies. Investigated for potential applications in neuropharmacology due to its affinity for 5-HT1A and 5-HT2A receptors.