Used primarily as an intermediate in the synthesis of nucleoside analogs, this compound plays a key role in the development of antiviral and anticancer drugs. It serves as a building block for modified nucleosides that can interfere with viral replication or disrupt cancer cell proliferation. Its structure allows for selective modifications, making it valuable in medicinal chemistry for designing pharmaceuticals with improved stability and activity. It is also employed in research settings to study enzyme mechanisms involving DNA and RNA metabolism.