Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of antiviral and anticancer agents. It serves as a building block in the preparation of modified nucleic acid components, which are explored for their potential in drug design and molecular biology research. Its structure allows for functionalization that can enhance binding affinity or selectivity in bioactive molecules. Also investigated for use in agrochemicals and as a precursor in the creation of specialty chemicals with potential applications in materials science.