Used in pharmaceutical research as a key intermediate in the synthesis of serotonin receptor modulators, particularly targeting 5-HT2A and 5-HT2C receptors. Shows potential in the development of treatments for neurological and psychiatric disorders such as depression, anxiety, and schizophrenia. Also investigated for its role in regulating sleep and mood due to its structural similarity to endogenous neurochemicals. Limited to laboratory use; not approved for therapeutic use in humans.