This chemical is primarily used in the field of biochemistry and molecular biology as a key component in the synthesis of modified nucleotides. It plays a crucial role in the development of nucleic acid analogs, which are essential for studying gene function, regulation, and expression. Additionally, it is utilized in the preparation of therapeutic oligonucleotides for applications in antisense therapy, where it helps in targeting specific RNA sequences to treat genetic disorders or viral infections. Its stability and solubility make it suitable for use in various enzymatic reactions and as a building block in the production of advanced molecular probes for diagnostic and research purposes.