Used as an intermediate in organic synthesis, particularly in the preparation of biologically active compounds. It serves as a building block in the development of pharmaceuticals targeting neurological and metabolic disorders. Also employed in the synthesis of NAD (nicotinamide adenine dinucleotide) analogs, which are important in biochemical research and enzyme studies. Its hydroxymethyl group allows for further functionalization, making it valuable in medicinal chemistry for creating derivatives with enhanced solubility or stability. Additionally, it has been explored in the design of prodrugs due to its ability to modulate the release of active agents in vivo.