Well,yes. A phosphate, an organic base ( Adenine,Guanine,Cytosine and Thymine; Uracil in RNA) and a sugar molecule ( ribose or deoxyribose) constructs the nucleic acid in any way. Adenine matches with Thymine or Uracil, and Guanine matches with Cytosine. Those nucleotides construct the main base of aminoacids, which is called codons. For instance AUG starts a base unit, which we call the start codon. It's hard to say that the scientists have all the information about the nucleotides, but the general thought about them is they are constructing the main structure of the nucleic acid.
Hope this helps!
Regards,
Autolycus