This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of nucleoside analogs, which are crucial for developing antiviral and anticancer drugs. Its structure allows for selective modifications, making it valuable for creating targeted therapeutic agents. Additionally, it is employed in research settings to study enzyme mechanisms and biochemical pathways, aiding in the discovery of new drug candidates. Its stability and reactivity make it a versatile building block in organic chemistry.