This compound is primarily used in biochemical research and pharmaceutical development. It serves as a key intermediate in the synthesis of nucleoside analogs, which are crucial for antiviral and anticancer drug development. Its structure allows it to mimic natural nucleosides, enabling it to interfere with viral replication or cancer cell proliferation. Additionally, it is utilized in the study of enzymatic processes and cellular metabolism, providing insights into the mechanisms of DNA and RNA synthesis. Its application in medicinal chemistry also extends to the design of prodrugs, enhancing the bioavailability and stability of therapeutic agents.