This compound is primarily utilized in the synthesis of pharmaceutical agents, particularly in the development of antiviral and antibacterial drugs. Its unique structure makes it a valuable intermediate in the production of nucleoside analogs, which are crucial for treating viral infections such as HIV and hepatitis. Additionally, it serves as a key building block in the creation of modified nucleotides used in genetic research and molecular biology. Its stereochemistry also allows for precise control in the design of biologically active molecules, enhancing their efficacy and specificity.