This chemical is primarily utilized in the synthesis of nucleoside analogs, which are crucial in the development of antiviral and anticancer drugs. Its structure serves as a key intermediate in the production of modified ribose sugars, which are essential components in the creation of RNA-based therapeutics. Additionally, it is employed in organic chemistry research for the study of carbohydrate chemistry and the development of novel glycosylation methods. Its stability and reactivity make it a valuable building block in the construction of complex molecules used in medicinal chemistry and biochemistry.