Agree with MJ, I actually like it a lot for the right patients and like seroquel has a somewhat broad dosing range, so can be used at lower doses for agitation/impulsivity. It's one of my go-to meds for patients with ID/severe ASD with significant agitation when stuff like abilify or risperdal isn't working.
From a molecular standpoint, it's pretty similar to clozapine and is metabolized to amoxapine which is a TCA (discontinued in the US but still used in other countries). Anecdotally I have found it to be helpful for patients with schizophrenia or other issues with co-morbid depression. I don't use loxapine for bipolar/mania d/t it metabolizing to amoxapine which has a listed side effect of (hypo)mania, but honestly don't know the data for using it for bipolar disorders.
ETA: Apparently a systematic review found it has indications for manic agitation, but has not been studied for actual treatment of manic episodes:
Loxapine is an antipsychotic used in psychiatry for over 40 years with a well-established profile. Loxapine is a dibenzoxazepine tricyclic antipsychotic agent, available for oral, intramuscular and inhalatory administration. In the light of the recent approval by the regulatory agencies of...
annals-general-psychiatry.biomedcentral.com