Klonopin, commonly known by its brand name Clonazepam, is prescribed for the management of anxiety and panic disorders. It works by enhancing the effects of a neurotransmitter called gamma-aminobutyric acid (GABA) in the brain, producing a calming effect. While effective for many, it is crucial to use Klonopin under the guidance of a healthcare professional due to its potential for dependence and withdrawal symptoms.