Used primarily as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system (CNS) agents. Its structural features allow for selective modifications, making it valuable in creating analogs for drug discovery. It is also employed in the preparation of chiral building blocks used in asymmetric synthesis. Due to the presence of reactive functional groups and halogen atoms, it participates in cross-coupling reactions, enabling the construction of complex organic molecules. Its application extends to research settings for probing biological pathways and designing enzyme inhibitors.