This chemical is primarily utilized in the field of pharmaceutical research and development, particularly in the synthesis of nucleoside analogs. These analogs play a crucial role in the creation of antiviral and anticancer drugs. The compound's structure allows it to act as a key intermediate in the production of modified nucleosides, which can inhibit the replication of viruses or target specific cancer cells. Its application is significant in the design of drugs that require precise modifications to enhance therapeutic efficacy and reduce side effects. Researchers leverage its unique properties to develop treatments for diseases such as HIV, hepatitis, and various types of cancer.