Used as a key intermediate in the synthesis of various pharmaceutical compounds, particularly in the development of antiviral and anticancer agents. It plays a crucial role in the production of nucleoside analogs, which are essential for treating viral infections like HIV and hepatitis. Additionally, it serves as a building block in organic synthesis for creating heterocyclic compounds with potential biological activity. Its applications extend to research and development in medicinal chemistry, where it aids in the discovery of new therapeutic molecules.