Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nicotinamide-based drugs and NAD+ precursors. Commonly employed in the preparation of vitamin B3 derivatives and enzyme cofactor analogs. Also utilized in research settings for the design of novel heterocyclic compounds with potential metabolic and neurological activity. Its hydroxymethyl and ester functional groups allow for easy modification, making it valuable in medicinal chemistry for structure-activity relationship studies.