Depressed on Topical Liposomal Finasteride with sexual side effects – WRassman,M.D. BaldingBlog

After trying every single dose of finasteride, oral 1mg – 0.25mg EOD and topical doses, 0.025% and 0.0125% i got the liposomal topical finasteride 0.01%.

I would suggest that you get a DHT level and see if it is normal (which it should be on the topical liposomal finasteride.  If it is normal, the finasteride is not playing with your hormones as it is not going systemic.  Look for psychological factors or placebo effects