Used as a key intermediate in the synthesis of various pharmaceuticals, particularly in the development of antiviral and anticancer agents. Its structure supports the formation of nucleoside analogs, which can interfere with viral replication or tumor cell proliferation. Also employed in the preparation of kinase inhibitors and other biologically active molecules targeting specific enzymes in metabolic pathways. Commonly utilized in research settings for designing new drug candidates due to its favorable reactivity and ability to form hydrogen bonds.