This chemical is primarily utilized in the field of medicinal chemistry and biochemistry, particularly in the development of nucleoside analogs. It serves as a key intermediate in the synthesis of modified nucleosides, which are essential for creating antiviral and anticancer drugs. Its structural similarity to natural nucleosides allows it to be incorporated into DNA or RNA, making it valuable for studying nucleic acid interactions and designing therapeutic agents. Additionally, it plays a role in research focused on understanding the mechanisms of enzyme inhibition and DNA replication, contributing to advancements in targeted drug therapies.