Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of antiviral and anticancer agents. It serves as a building block in the development of nucleoside analogs, which mimic natural nucleosides and interfere with viral replication or tumor cell proliferation. Its structure allows for easy modification, making it valuable in medicinal chemistry for designing drugs targeting RNA and DNA synthesis. Also employed in research settings for the development of kinase inhibitors and other biologically active compounds.