Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of antiviral and anticancer agents. Its structure allows for selective modifications, making it valuable in medicinal chemistry for building active ingredients in nucleoside analogs. Also employed in agrochemical research for designing novel pesticides and herbicides due to its ability to interact with biological targets in pests and pathogens. Commonly utilized in research laboratories for creating libraries of heterocyclic compounds in drug discovery programs.