This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various nucleoside analogs, which are important for creating antiviral and anticancer agents. Its structural properties make it suitable for modifying the activity of enzymes and receptors, thereby aiding in the development of targeted therapies. Additionally, it is employed in biochemical research to study the mechanisms of nucleic acid interactions and to design novel compounds with potential therapeutic applications. Its versatility in chemical reactions also makes it valuable for exploring new pathways in organic synthesis.