This compound is primarily utilized in the synthesis of pharmaceuticals, particularly in the development of antiviral and anticancer agents. Its structure serves as a key intermediate in the production of nucleoside analogs, which are crucial for inhibiting viral replication and targeting cancer cells. Additionally, it is employed in biochemical research to study enzyme mechanisms and nucleotide metabolism, aiding in the discovery of novel therapeutic targets. Its role in organic synthesis also extends to creating derivatives with potential applications in medicinal chemistry and drug design.