This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the preparation of various biologically active molecules, particularly in the development of antiviral and anticancer agents. Its structure allows for further functionalization, making it valuable in the creation of complex heterocyclic compounds. Additionally, it is employed in the study of enzyme inhibitors and as a building block for the synthesis of nucleoside analogs, which are crucial in drug discovery and development processes.