This compound is primarily utilized in organic synthesis as a protected form of a sugar derivative. It serves as an intermediate in the production of nucleoside analogs, which are crucial in the development of antiviral and anticancer drugs. The acetoxy groups provide stability and prevent unwanted reactions during synthetic processes, allowing for precise modifications to the sugar moiety. Additionally, it is employed in carbohydrate chemistry research to study glycosylation reactions and to synthesize complex oligosaccharides. Its role in these applications highlights its importance in advancing pharmaceutical and biochemical research.