State it plainly: the mechanism behind retatrutide-associated dysesthesia has not been established. What exists is a set of candidate explanations, each reasonable, none demonstrated. They are worth setting out because they are what informed discussion is currently made of, not because any of them is an answer.
A glucagon receptor effect. Retatrutide is a triple agonist at the GLP-1, GIP and glucagon receptors. The glucagon arm is the component that distinguishes it from dual agonists such as tirzepatide, and a cutaneous sensory signal at these rates is not a familiar feature of the established GLP-1 and GLP-1 plus GIP class. That coincidence makes the glucagon component the most discussed candidate. It remains a coincidence rather than a demonstrated pathway.
Direct receptor effects on peripheral sensory neurons. Incretin receptors are expressed in nervous tissue as well as in pancreas and gut, so a direct effect on sensory neuron signalling is biologically plausible. No trial data ties this to the reported events.
Consequences of rapid weight reduction. These trials produced weight loss at a rate and magnitude with few precedents outside surgery. Rapid change in body composition, subcutaneous fat and fluid balance alters what sits between nerve endings and the outside world, and could plausibly change how sensation is experienced without any direct drug effect on nerves at all.
Reduced nutrient intake. Large sustained appetite suppression reduces total intake, and several micronutrients matter to peripheral nerve function. This is a well-worn explanation for sensory symptoms in other contexts. In this programme it is speculation, because intake and micronutrient status data have not been published alongside the dysesthesia rates.
A useful test of any explanation is whether it accounts for the dose response. The rate roughly doubles or better between dose steps in three of the four trials, which fits a drug-exposure explanation more comfortably than it fits a nutritional one, since intake reduction does not scale as cleanly with dose. That is a weak inference from summary data, not a finding.