Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antiviral and anticancer agents. Its functional groups enable selective chemical modifications, making it valuable in constructing heterocyclic compounds for drug design. Also employed in the preparation of nucleoside analogs, which mimic natural nucleosides and interfere with viral replication or tumor growth. Additionally, it serves as a building block in the synthesis of agrochemicals and functional materials due to its reactivity and structural features.