Used as an intermediate in the synthesis of antiviral and anticancer agents, particularly in nucleoside analog development. Its structural features allow incorporation into modified nucleosides that can interfere with viral replication or tumor cell proliferation. Commonly employed in medicinal chemistry for probing enzyme mechanisms or designing inhibitors targeting DNA/RNA synthesis pathways. Also utilized in the preparation of prodrugs due to the presence of ester functionalities that can enhance cellular uptake and bioavailability.