To evaluate the safety and tolerability of iloperidone in adolescent patients with schizophrenia or bipolar I disorder for up to 52 weeks of treatment.

Inclusion Criteria:

• Patient is willing and able to provide assent and willing to complete all aspects of the study
• Patient's parent or legal guardian willing and able to provide consent
• Male or female patients 12 through 17 years of age (inclusive)
• Clinical diagnosis of either schizophrenia or bipolar I disorder

Exclusion Criteria:

• Use of other investigational drugs at the time of enrollment, or within 30 days or 5 half-lives of enrollment, whichever is longer
• A positive test for drugs of abuse