Will loprox (ciclopirox olamine) be effective to treat balanitis?

Yes, it can be but.. Yes, it can be if being with bacteria; but, key rx for balanitis is still gentle cleaning ; drying the foreskin regularly, especially after each peeing plus timely ; thinly applying antifungal/steroid cream; definite rx is circumcision + good hygiene. Note: remember to pull down the retracted foreskin after each cleaning ; drying; otherwise, paraphimosis may ensue - an emergency.
LOPROX (ciclopirox) AND BALANITIS. Loprox (ciclopirox) can be effective to treat balanitis if the problem is due to fungal infection. You need to get a culture before you should use this medication.