This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of nucleoside analogs, which are crucial for developing antiviral and anticancer drugs. Its structural similarity to natural nucleosides allows it to be incorporated into DNA or RNA, making it valuable for studying and inhibiting viral replication or cancer cell proliferation. Additionally, it is used in the development of prodrugs, where its modified structure enhances bioavailability and therapeutic efficacy. Researchers also employ it in the design of oligonucleotides for gene therapy and molecular biology applications.