[2] Its molecular structure and pharmacological effects somewhat resemble those of the tryptamine psilocin, which is the primary psychoactive chemical in magic mushrooms.

Shulgin's trials and other anecdotal information suggest that 4-HO-MiPT is a synthetic psychedelic similar in activity to psilocin.

The salt consists of a protonated tryptammonium cation and a 3-carboxyacrylate (hydrogen fumarate) anion in the asymmetric unit along with a water molecule of crystallization.

[2] Like other serotonergic psychedelics, its method of action is believed to result from its partial agonism of 5-HT2A and 5-HT1A serotonin receptors.

Its chemical structure and pharmacological activity are very similar to psilocin, a compound which is not associated with compulsive use or physical dependence.