Used primarily in the synthesis of antiviral and anticancer drugs, this compound acts as a key intermediate in the production of nucleoside analogs. Its modified structure allows it to inhibit viral replication and cancer cell proliferation by interfering with DNA and RNA synthesis. It is particularly valuable in the development of treatments for diseases like hepatitis and certain types of cancer, where targeted therapy is essential. The acetylation enhances its stability and bioavailability, making it more effective in therapeutic applications.