• Subjects aged 13 to 17 years with schizophrenia or aged 10 to 17 years with bipolar I disorder, diagnosed according to Diagnostic and Statistical Manual of Mental Disorders, 5th Edition (DSM-5) criteria

• Subject is an outpatient or will be able to be treated on an outpatient basis (per Investigator judgement) by study Week 2

• Subject has reliable family/legal guardian support available for outpatient management

• Subject is either currently treated with olanzapine, or if treated with another antipsychotic, the subject has had an inadequate response (eg, unsatisfactory clinical response, AEs, or nonadherence to current medication) based on Investigator judgment

• Subject must not be a danger to self or others (per Investigator judgement)