Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of antiviral and anticancer drugs. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for designing compounds that can interact with biological targets such as enzymes and receptors. Commonly employed in the preparation of kinase inhibitors and nucleoside analogs, it contributes to enhanced binding affinity and selectivity in drug candidates. Also utilized in research settings for the development of fluorescent probes due to its ability to form stable derivatives with detectable emission properties.