This compound is primarily utilized in the field of medicinal chemistry, particularly in the development of antiviral and anticancer agents. It serves as a key intermediate in the synthesis of nucleoside analogs, which are designed to mimic natural nucleosides and interfere with viral replication or cancer cell proliferation. Its structural features make it suitable for incorporation into drug candidates targeting viral enzymes or cellular pathways involved in disease progression. Researchers often employ it in preclinical studies to evaluate its efficacy and safety profile, paving the way for potential therapeutic applications.