Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of nicotinamide adenine dinucleotide (NAD) analogs and related bioactive compounds. It serves as a building block in medicinal chemistry for creating enzyme inhibitors and neuroprotective agents. Also employed in research settings to study redox processes and electron transfer mechanisms due to its structural similarity to pyridine nucleotides. Its derivatization supports the design of compounds with potential antiviral, anticancer, and metabolic regulatory activities.