Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of nicotinamide adenine dinucleotide (NAD) analogs and other biologically active pyridine derivatives. Its aldehyde and hydroxymethyl functional groups allow for selective modifications, making it valuable in medicinal chemistry for developing enzyme inhibitors and receptor ligands. Also employed in the preparation of fluorescent probes and sensors due to its ability to form conjugated systems upon condensation reactions. Commonly utilized in multistep organic syntheses where functional group versatility is required.