This compound is primarily utilized in the field of medicinal chemistry and drug development, particularly in the synthesis of nucleoside analogs. It serves as a key intermediate in the production of antiviral and anticancer agents, leveraging its unique structure to mimic natural nucleosides and interfere with viral or cellular replication processes. Its incorporation into therapeutic molecules allows for targeted action against specific enzymes or pathways, making it valuable in the design of treatments for diseases such as hepatitis, HIV, and certain types of cancer. Additionally, its chemical properties enable researchers to explore modifications for enhanced efficacy and reduced toxicity in drug candidates.