Used primarily in biochemical research, this compound is a key intermediate in the synthesis of nucleoside analogs, which are crucial for developing antiviral and anticancer drugs. It plays a significant role in studying RNA metabolism and enzyme mechanisms, particularly in understanding how ribonucleosides are processed in cells. Additionally, it is utilized in the preparation of modified nucleotides for probing nucleic acid structures and functions, aiding in the advancement of molecular biology and genetic engineering techniques.