This chemical is primarily used in the synthesis of various pharmaceutical compounds. It serves as a key intermediate in the production of antiviral and anticancer drugs, particularly in the development of nucleoside analogs. Its structure allows it to be incorporated into molecules that can inhibit viral replication or interfere with cancer cell growth. Additionally, it is utilized in research settings for studying enzyme mechanisms and designing new therapeutic agents. Its versatility in organic synthesis makes it valuable for creating compounds with potential biological activity.